The BTC copy and BTC tester Litecoin has reached thegreat level of 0.005. It means that with 1 btc you can buy 200 btc, the greatest amount ever since 2017. Bad drop so far but showing signs of consolidation. It is a little bit early for this trade but I waited this level for so long and I do not know if we will ever have another buying opportunity like this on LTC.
My target is 100 (0.01) in the following months, of course I will trade it a little bit when reaching key levels. Intermediate targets are 0.06 and 0.07 to do some trading.
My SL signal will be a close below 0.0047
Of course do not copy the trade without knowing the coin, this is just me thinking out loud a trade and showing you interesting things.
I agree, lets see what happens. It definitely needs to hold this support.
edutradinguru
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@strunkw67, right. I personally like LTC as it is actually a copy of BTC so I think it is really undervalued now. TA wise would not be the best timing for entering, but 200LTC for 1BTC is something we will hardly see in the future. This is a buy and hold trade. Should LTC go down I will buy some more lower (not my preferred way of acting but at these prices when haven't seen since 2017, it is hard to resist)
Cheers!
oguzbbayrak
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ltc looking above but btc is so unstable right now good idea btw thx for sharing :)
edutradinguru
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@oguzbbayrak, thanks for the comment. What I see right now though is that even if BTC goes down altcoins do not lose more (as usually happens), like if there is not much to squeeze out of them. So the best would be to either stay out of the market (as btc is doomed to go down) to accumulate at lower prices or, if you wanna hold BTC no matter what, would be wise to use it to enter some solid alt which is undervalued as another way to accumulate. Personally, I think it is more dagerous to stay 100% out than pick some good undervalued alt right now. If BTC goes down, alt/btc ratio stays the same. If it goes up/lateral,alt will gain more. It is almost a win win situation. The only case in which alt will be temporarily left behind is a steep, rapid growth of BTC which seems unlikely now.