matthewmorganjoh
Long

Look Out For LTC/BTC : On A Steady Uptrend 4hr 55 EMA

BITFINEX:LTCBTC   Litecoin / Bitcoin
In the midst of Bitcoins gargantuan correction, a small light has emerged. Litecoin, completely forgotten after its $400+ dollar run and abandonment from Charlie Lee, has been on a slow and steady rise in BTC value. As we all know, alts follow the way of Bitcoin . Sometimes it is staggered, where Bitcoin will rise then alts rise, or sometimes Bitcoin will trades sideways and let the alts run. However! When Bitcoin plummets 15, 20, 30% it is inevitable that alts will follow.

Litecoin, on the otherhand, has had incredible resilience since the beginning of February! It has seen a slow and steady uptrend in BTC value (ignoring USD value since the goal should always be more Bitcoin ) even when Bitcoin hit sub 8k ranges and sub 6k ranges. There may not be any 100 - 200% plays here, but it's certainly not a bad trade to have a steady uptrend in BTC value in the portfolio!

So far the 55 EMA has been supporting LTC since the 15.6k satoshi region, and it has not seen any signs of slowing down just yet. Certainly good for a short term trade (if followed properly on a shorter time frame) and certainly good for a mid/long term trade as well. We'll see how long we can ride this wave!
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