✳️ Litecoin | Negative Action Can Be A Positive Signal

Negative action can be a positive signal. This is based on the fact that we know the Cryptocurrency to be a newly developing and growing market.

Seeing Litecoin going down long-term, can be interpreted as a positive signal. I will add some context.

If this were a different market, say the fax machine market or the mail market, the stock market or something old going bust, then negative action can be really bad.

Knowing that it is a new, great and growing market, Cryptocurrencies that is, negative action for a long period of time can be a positive.

Here Litecoin can be seen dropping forever and hitting a new All-Time Low this month, February 2024.

This is the LTCBTC pair because the LTCUSDT pair is not the same.

This is another reason why negative action can be a positive signal.

Litecoin hasn't been dropping forever on its Tether pairing, only against Bitcoin.
This means that the project is alive and not done.

So this pair is only waiting for its turn to wake up, move up and grow.

This is possible based on the chart:

➖ Highest volume in months just came in following a stop-loss hunt event (double bullish).
➖ A year long bullish divergence with the RSI.
➖ All-Time Low.

An All-Time Low is always a bullish signals because the only place to go after a bottom hits is up. The same works in reverse: Once a pair trades near All-Time Highs, it can drop any day.

Stay strong, stay true, stay healthy, stay safe.
Take profits, enjoy the profits, be grateful and comeback for more.

Thank you for reading.

Namaste.

Comment:

This one is looking better now.
We have some accumulation happening with rising volume and higher lows since the 28-Feb. low.
Still early but this one can turn a bottom catch. Good for long-term.