Hey all, its Nathaniel - "THe BiPolar TraDer"
If you have not realised by now, I am back again with another market analysis on LTC/USD. If you have no idea where I have popped up from that is ok, check out my blog which will give you a little insight into my trading journey.
LITTLE BIG MOVEMENT LATEST BLOG POST
Now let's get down to the good stuff.
LTC/USD - Hopefully you read my last market analysis on LTC/USD because this is just a brief update on how the market has moved in the last 2-3days. In that post, I explicitly stated not to put your moon boots on just yet, because I did not believe it was the right time. The price needed to move back down to the average price, after launching into an overvalued area (not overbought). Something you may have noticed Is that I use the VWAP calculation (indicator) to define this for me. It was clear we had extended to far away from the average price and that we needed to come back to this area. Looking at the chart, you can see that the price moved back into the value area, which I started to look out for in my previous market analysis ($93.00 - $83.00). The same day the price closed within the value area, and buyers have been trying to jump on the bandwagon push the price up to the top of this value area. If you are looking to buy LTC, then my advice is to buy below the VWAP $84.00 and hold for a long term investment at this point. If you look at the price of LTC in the last three months, it has moved over 100%, which could stipulate that there is still a more significant move waiting to happen (the rocket is refuelling)
To make my life easier I have built a custom pine script indicator, which gives me an indication of where the value price is based on the criteria I used for my market analysis. I have not backtested this indicator, plus I would want to improve the indicator by defining a range. Watch this space :-), but I think it is publicly available already, so be my guess and use or enhance the indicator. Just let me know if you make any improvements as it could help me as well.
Next update will be in the coming week - Thank you for your love and support.
Regards
Nathaniel - "THe BiPolar TraDer"
Little Big Movement
LTCUSD
If you have not realised by now, I am back again with another market analysis on LTC/USD. If you have no idea where I have popped up from that is ok, check out my blog which will give you a little insight into my trading journey.
LITTLE BIG MOVEMENT LATEST BLOG POST
Now let's get down to the good stuff.
LTC/USD - Hopefully you read my last market analysis on LTC/USD because this is just a brief update on how the market has moved in the last 2-3days. In that post, I explicitly stated not to put your moon boots on just yet, because I did not believe it was the right time. The price needed to move back down to the average price, after launching into an overvalued area (not overbought). Something you may have noticed Is that I use the VWAP calculation (indicator) to define this for me. It was clear we had extended to far away from the average price and that we needed to come back to this area. Looking at the chart, you can see that the price moved back into the value area, which I started to look out for in my previous market analysis ($93.00 - $83.00). The same day the price closed within the value area, and buyers have been trying to jump on the bandwagon push the price up to the top of this value area. If you are looking to buy LTC, then my advice is to buy below the VWAP $84.00 and hold for a long term investment at this point. If you look at the price of LTC in the last three months, it has moved over 100%, which could stipulate that there is still a more significant move waiting to happen (the rocket is refuelling)
To make my life easier I have built a custom pine script indicator, which gives me an indication of where the value price is based on the criteria I used for my market analysis. I have not backtested this indicator, plus I would want to improve the indicator by defining a range. Watch this space :-), but I think it is publicly available already, so be my guess and use or enhance the indicator. Just let me know if you make any improvements as it could help me as well.
Next update will be in the coming week - Thank you for your love and support.
Regards
Nathaniel - "THe BiPolar TraDer"
Little Big Movement
LTCUSD
