Litecoin is dropping to $20-35 zone. It couldn't get more obvious. This is the easiest trade you can make. Anyone not selling here to buy back lower at guaranteed average $33 is just A FOOL.
Litecoin is the worst performing cryptocurrency. It is primarily meant for increasing BTC stacks, which is why every rise is sold into and highs generally don't last (nobody cares about owning LTC long-term, this is why it it has yet to break its 2013 high).
This looks to be a very risky trade - even just to consider shorting a crypto while Bitcoin is in a motive wave. On top of that LTCUSD has turned 200ma resistance into support and LTCBTC is in an expanding pattern which could well lead to a fast impulse to the upside to break 200ma resistance. And there looks to be plenty of space to the upside.
"It's literally free money." This is not helpful to new traders that may copy trade. The only free money here will be for the house. Shorting cryptos near their bottom is never a good idea.
@dRends35, It's not bottom for Ltc. Ltc is very weak coin. It has not broken 2013 high ($48) if we adjust for inflation. This shows that in 7 years time there has been no increased demand for Ltc. Ltc will therefore only go lower.
dRends35
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@Moonsie, It fell from giddy highs and has not broken the 2018 low and has been in sideways consolidation since then. Narrow price channels lead to explosive moves and I think you will see shortly. @london55555 @VladimirBashovski
UnknownUnicorn788630
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@dRends35, LTC moved above the 200 ma sometime in february as well, but then crashed back down. It made a 'golden cross' back then too, but crashed hard down and has not recovered. It's playing out exactly like then and very very weak price action. This is why I recommend sell.
dRends35
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@Moonsie, Yes it did, but that can be considered to be a correction following an enormous blow off top. On this occasion LTCUSD/BTC is curling up slowly with the 200ma and woe betide any shorters here. Perhaps what you consider "very very weak price action" is actually accumulation. I'm not saying that LTC is bullish long term from here, but it looks ready to have a good run. @london55555 @VladimirBashovski
UnknownUnicorn788630
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@dRends35, Of course what I post is just speculation... maybe you are right, but for now I am not very convinced. Lets see if it can break $80 without correcting from that. If it performed like other major cryptos, it should have been at least triple digits by now.
dRends35
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@Moonsie, How modest to say - and of course I could also be wrong. But for me LTC chart looks similar to lower rank alts, some of which are already motive.
kxa5111
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@dRends35, He is a troll and been shitting around for a while now. I hope he loses money as much as how he wants new traders to lose money.
dRends35
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@kxa5111, Why do you swear and "hope he loses" money? He's (not sure gender was disclosed, but anyhow...) trading the other way, so what?
VladimirBashovski
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@dRends35, That was so rude of him wishing disaster to people. lol, never, never wish bad to anyone, such a poison.
"It's literally free money." This is not helpful to new traders that may copy trade. The only free money here will be for the house. Shorting cryptos near their bottom is never a good idea.
@london55555 @VladimirBashovski