imfamousrajat

LITECOIN - IMPORTANT LEVELS TO LOOK AT, DAILY TIME FRAME!

BITFINEX:LTCBTC   Litecoin / Bitcoin
With Bitcoin plummeting, Altcoins are heading towards grave. That is why i have stopped using chart patterns for a while for altcoins because they are all so much dependent on Bitcoin . We all have been noticing that if BTC falls a few percent like 2-3%, altcoins take a way deeper dig to around 8-10% or so. So, it's better not to use traditional chart patterns since they won't come into fruition. So, i am trading raw just via using swing highs, lows, supports and resistances. I have marked everything on my chart, you can check it carefully.

Litecoin is currently hovering in the critical territory. If this level doesn't hold, then i am afraid that there's only 1 major support left after that in my opinion. Beyond that, it's a zone of free fall.

Alternative, if this levels holds then there a lot of scope on the upside. No need of marking these in between levels.

I'll keep updating this, as and when required.

P.S: This is not an investment advice. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.

Comments

I had converted btc to ltc (cheap and fast transaction) as I wanted to transfer from one exchange to another. Now should I convert back to btc or usdt.

My thoughts for both scenario:

To Btc ...ride up the rally
To usdt...if btc dumps to rebuy at lower price.
Pl Suggest the strategy which is better
Reply
imfamousrajat Poonam1775
@Poonam1775, The ideal approach as per me is,

1> Conversion to BTC(if BTC starts to trend up)

2> USDT(if BTC trends down).

Timing is important in each case. Don't get caught up at the wrong time.!

Good luck.
Reply
thanks for posting your thoughts and charts, its very helpful... good luck to us all in these zones
Reply
@Snow0110, I am glad you liked it.! :)
Reply
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