I am looking at the Litecoin (LTCBTC) chart on the daily time frame and there seems to be something brewing up.
This signal can fail, but it looks like a strong move is on its way... If resistance can break.
- The black line on the chart is MA200. Notice how this line is coming down and now below LTCBTC's price. - Recent break above EMA10 and trading above EMA50, which is a strong resistance. - We have a bullish RSI and the MACD is also n the bullish zone, something most altcoins are laking. - This can be a good profit move, so keep an eye on this. - If enough support is given to this trade idea, I will post a LTCBTC (All exchanges -Binance, Bittrex, Coinbase, BitFinex, Kraken, etc.) trade as well as a highly profitable LTCH19 (BitMEX) trade with leverage.
Thanks a lot for reading.
Namaste.
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Previous Litecoin (LTCH19) trade:
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A closer look at LTCBTC weekly (notice that LTC has been trading above EMA10 since mid-December... This is bullish...)
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You gave me your support and here is our next Litecoin trade as promised:
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For LTCBTC, you can see the targets on the main chart above (purple lines).
Everything is possible. It is just a question how likely it is. If Donald Trump decides to pay federal employees in Litcoins, it could indeed make this 100% strong move up you are seeing.
BTCINVESTING
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true :-) target: fibu 0.618 = 0.145
AlanSantana
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@btcinvests, Thanks for sharing.
ReallyMe
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But I do like the fact that LTC/BTC hat bottomed out. It indeed speaks for LTC.
@alanmasters, Yep. If I were to buy crypto, then I would currently buy Litecoins and not Bitcoins. Or if I were a crypto "hodler", then I would exchange all Bitcoins in Litecoins because they do not lose value so quickly. But currently it is too early to buy cryptos, or too stupid to just hodl them, because in US dollars, they are all still losing value. It may change and the trend may turn some day but until then it is currently much more reasonable to buy Gold for example. See my idea about it, it explains why
Bitcoin seems to be stronger and hold better its value.
As a long term holder it is better to buy crypto instead of gold, because of potential future growth.
ReallyMe
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@alanmasters, I wrote "currently". As with any currency pair (EUR/USD, USD/JPY, LTC/BTC is no expection),
there are periods when one currency performs better than the other.
In the periods when the LTC/BTC curve is going up, it is better to have LTC than BTC.
Now is just such a period. But nothing is forever in the market, you've got to watch it
bumblefoot
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@ReallyMe, silver is the real asset in industry. demand alone will increase the price. think solar
ReallyMe
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@bumblefoot, I'm afraid you're wrong. ;-)
The ratio Gold/Silver Ratio has been rising for years (since 2011). Still rising...