COINBASE:LTCUSD   Litecoin / U.S. Dollar
This is my view of Litecoin. From what I see it has been for the most part trading in an upward channel, I could see this continuing over the next couple of months,
giving traders buying opportunities near the lower trend line and selling opportunities near the upper trend line . I have not really been trading Litecoin, I am in it more for the long-term (min. 1 to 2 years) so
I mostly just buy on any dips, I did, however, sell a large portion of my position when LTC spiked up over $90 and have been rebuilding my position ever since.
Comment: Litecoin is now testing the upper trendline, the next 24 to 48 hours will tell if it
breaks out or fails and drops back into the channel.
Comment: Litecoin has now broken out of the channel with power. Time will tell if it is up, up and away from here or if LTC will at some point return to the channel.
but its creator was always projecting it as a coin for day to day use while bitcoin will act as an investment coin. So will he allow the price to increase drastically?
Does LTC have a little pull back to range 64 - 68 level before another strong bullish?
hdon94 jeremy.yllim
@jeremy.yllim, It very well could. It has just pulled back a little from the upper trend line so it wouldn't surprise me if it drops even to the upper $50's where I will be buying more!
@hdon94, It has been sitting around 69 to 71 level for the past few days. I am seeing it struggling to bull at the moment based on daily. Hopefully it bearish to the level for more buyers.
hdon94 jeremy.yllim
@jeremy.yllim, Yes, I am really hoping for a pullback too, I want to buy more but would like to get it around $60. You never know maybe a pullback in the next few days.
Great chat, it looks almost easy trading LTC seeing this ^^
looks like LTC is quite correlated with BTC they both pumped during August then crashed during September.
hdon94 hyipster
@hyipster, Yeah, I plan on watching it closely. I have been slowly adding to my long-term position but may try a little swing trading also.
I must say that it is a great analysis ! Thanks for your valuable analysis ! Keep posting LTC charts often, I am a big fan of LTC and think it will make us wealthy some day !
hdon94 patelcrypto
@patelcrypto, Thank you! I will!
What made you sell when it broke out of the channel? How did you know that it is going back to the upward channel?
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