That was my comment from the last Bitcoin idea. Now I am long LTC and up over 4%. I have bought more LTC 9550.
I expect this rally to go 20% percent or higher in a black swan event similar to Doge or Ripple. Once it completes, we may short Litecoin to the ground. However, Bitcoin must be moving up to 6900 for this to happen. I believe it will so I posted this chart.
9464 (most likely target)
Close below 9290
My take profit will be manual as I can monitor.
Even if Litecoin closes back below, there is still a chance for it to pop off, as long as it holds 8363 and moves back up.
Thanks for viewing! Doge and Ripple popped off. I believe Litecoin will do the same.
This is a no brainer long with a very good risk/reward. The worst thing that happens will be a close at break even.
One of the strongest bull flags I've seen. XRP had a better one that only lasted 30 minutes before the next wave, but LTC is very strong.
I would not short as another wave up is possible. Just have buy orders and a stop loss.
In theory we should now be moving up. If that does not happen, make sure you have a stop loss ready.
Litecoin should find support here and move back up. If not, there should be a higher low formed.
Here we are.
On the other hand, XRP seems quite bullish relative to other coins. It is not dropping.
I am still bullish on Litecoin. If we fail here, trend should hold.
Look at BTC price action in LTC/BTC.