sumastardon

Litecoin: LTCUSD Use a stop here to protect longs

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin. LTCUSD            
Bitcoin's failure has washed over into all the Alts but Litecoin
has not suffered as badly as others, so far...if that's to remain
the case then support at 245 must continue to hold here
during the course of today (stops for longs need to be only 3
points or so under here) for any failure to hold will tip
Litecoin into the hands of the bears who will force price back
to 208 at least, if not back to 173 before releasing their hold.
Use a stop (in head) here or an alert. Better safe than sorry
Seeing this and wondering! I've been long LTC since €25 so not so worried about losses. However if we are going to see a dip again maybe I should sell a couple and then buy back again at a lower price. What'd you reckon??
+1 Reply
mike21ap RJHumphries
@RJHumphries, Don't know about selling, depends on where your various entries were. Certainly TA aside, LTC will follow BTC, which is likely to test 11k zone with a possibility of going lower. Principally that might just allow you to enter LTC around 150-160 zone. Doubt this will go much lower, though anything is possible... It is worth watching volume, which I think was the issue with the rise yesterday. Price was rising on no volume which is not a good sign. East woke up and volume stayed the same. Price started dropping. All in all this is likely also partially due to the time of the year -profits, balancing of books, etc.
+1 Reply
htgorgulu mike21ap
@mike21ap, thx mike
Reply
RJHumphries mike21ap
@mike21ap, thanks for the advice. Appreciated. Looks like we might have avoided a bounce. Which X is annoying as I sold some to buy lower. The best strategy I've had with these alt coins is to simply leve them alone! Think I might stick to that from now on. Might make a .2 profit though, which is always a treat. Merry Christmas!!
Reply
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