I'm guessing everyone reading this is smashing the weekend as usual! Make the most out of them!
Anyways, about the wicks. This trade is pretty dependent upon BTC . If you have been reading my posts on BTC /USD you can see I'm expecting a drop to mid $7s in the next week. Personally, I thought we would be grabbing the bull by the horns in late April, but this pattern has dragged on for a lot longer than expected. Come on already! Let's hope (for the Northern Hemisphere folks) summer brings the parade of the Bulls. When BTC is a bull, alts like to play.
Little side tracked there. When BTC takes its drop , just as it has before, we should see LTC take a quick dive down to the range of 0.0149-0.0159 levels. If this occurs, we can expect a very fast move upwards to 0.02-0.025 levels. This would yield a 20-60% gain on BTC . This would be a great profit taking opportunity if you don't like to use Tether or USD in bear times.
For a more long-term outlook, we would expect a quick rebound to 0.018 levels and would recommend a buy around there (after the 0.02+ sell). Then do what traders hate...HODL. Why? Well, we saw what did to BTC ...we are about to see what will happen to ETH...what will be next??? LTC. That will be one of the most profitable moves to make on LTC for 2018 in my opinion. You do not want to miss that.
So short-term, get ready to catch a wick, ride it for a quick sell. Catch it on the rebound. The key here is what happens with BTC . LTC is going sideways since BTC hasn't really moved much. Once we get a quick price movement, LTC will react.
That's it for today. Keep enjoying the day! As always, come join our Telegram. We are building up numbers so we can bring ICO airdrops to you, start doing raffles, and keep everyone up to date on our Large-Cap portfolio, 50 LTC/ BTC trades to $1M, and soon more!
- DA BULL