Artesp

LTCUSD idea, related to Litecoin's upcomming fork

COINBASE:LTCUSD   Litecoin / U.S. Dollar
This commentary is for entertainment purposes only. This is not trading advise.

I believe that this sudden rise of Litecoin is a pump and dump, with the goal to pump it has high as possible in the next three days, and them let it drop to around $100 level. Why? because Litecoin Cash fork scheduled for Feb 17th. At the moment of the fork, whoever is holding Litecoin in their Litecoin core wallet will receive 10 to 1 Litecoin-cash coins. So, I see this as a maneuver of some (well played) to increase Litecoin holdings. I'm glad for you if you are riding this wave. Be careful, as always, of buying when the RSI is above 70.
I expect Litecoin to get dumped like trash this Sunday, And when it hits bottom you will see a massive re-buy wave (people increasing their coin amount).

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out