As the market continues to consolidate and provide mixed signals, Litecoin is once again showing some signs of leading the space. We have been long on Litecoin and hold our position for a broader move. This takes away the emotions of second guessing ourselves, wondering if this move is the real one, and all the emotions that can come with looking to time the perfect bottom.
In the short term taking out the 48.0 level and a continuation goes a long way to favoring a potential swing towards the 60.0 target area. We can still not discount Bitcoin which is the market leader, but Litecoin was an indicator of the last bullish swing and it may be of this one.
Let's not get too excited, we can still pullback and retest the 43.0 level or as low as the 40.0 area but this would still not discount the move. We start pushing into the 30's then we may have to revise our strategy here. Until then we just sit back with our bag of coins and let the market decide. No sense in trying to guess, and since we are already long with discretionary money we are sleeping well at night.
Will be interesting to see if Litecoin once again leads the market higher, over the weekend. We look for the strongest charts and for a month we have been focused on Litecoin. It still has one of the best charts out there, with maybe the exception of EOS.
Enjoy your weekend!
In the short term taking out the 48.0 level and a continuation goes a long way to favoring a potential swing towards the 60.0 target area. We can still not discount Bitcoin which is the market leader, but Litecoin was an indicator of the last bullish swing and it may be of this one.
Let's not get too excited, we can still pullback and retest the 43.0 level or as low as the 40.0 area but this would still not discount the move. We start pushing into the 30's then we may have to revise our strategy here. Until then we just sit back with our bag of coins and let the market decide. No sense in trying to guess, and since we are already long with discretionary money we are sleeping well at night.
Will be interesting to see if Litecoin once again leads the market higher, over the weekend. We look for the strongest charts and for a month we have been focused on Litecoin. It still has one of the best charts out there, with maybe the exception of EOS.
Enjoy your weekend!