Fundamentals: Litepay payment service will be released tomorrow, deploying the service in 41 countries simultaneously. Litepay is extremely fast (transactions occur in seconds) and cheap - flat fee of 1%. Technical: SMA 50 above SMA 200 and price above SMA 50. That is a double bullish confirmation.
Buy now Take profit: 0.0267 (+23%). You can also keep a part of LTC for long term.
It might be that the price will dump a bit today and tomorrow as long term holders are aiming to sell before or just after the launch. That's why I would not suggest to use a Stop Loss. If you still want to do it, you can pick 0.0159 level.
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Litepay to be released 9PM Pacific time. But apparently the news is not that good as they couldn't fit in card services due to financial institutions hostility. That explains today's ascending then descending trajectory. I will keep the position open. m.imgur.com/ees7t4o
Trade active
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Litecoin recovers nicely after the missed Litepay launch and BTC whale dump. Based on Fibo, it reached 0.618 level which is a strong Buy signal. Target of 0.0267 remains valid, only the timeframe is stretched. Good luck!
@RaduV, did you personally receive that news from LitePay? Is it any chance it was just made up? Why didn't Charlie Lee or LitePay post anything on Tweeter? I'm a bit confused...
Looks pretty strong. With news like that we should see new money coming in.
RaduV
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@puijob, indeed! LTC has what it takes to become a real currency. As more people will adopt Litepay the volume, therefore value of LTC will increase. Think it's also a good long term hold.
El_Majkelo
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@RaduV, well see what happens might go up , because a lot of shorters must be rolled