Hello everyone
Today a small update on the price-action of LTC. Let's get straight in to this !
So today we are seeing a relatively ‘big’ correction coming in. With the big players going down between the 5 and 12%. Let's just take a step back and try to look at the situation in a neutral point of view.
LTC is now down to 112 USD. They are back at the same level as we've seen at the end of May.
So what can be the reason of this correction in LTC?
- the volume is very low
- there is no good news coming in.
- there are no specific rumours of LTC collaborating with big players like Amazon or FB,... (like we’ve seen in the past)
Not only Litecoin went down in the crypto space, what are the main problems in crypto world:
- a lot of manipulation going on ( big institutions)
- a lot of speculators, traders, ...
- 95% doesn't use crypto for payments
- bankers are scaring everyone because they doesn't want to lose control.
BUT there is good news aswell.
- we've reached a very strong support level for LTC at the moment, the previous times we've reached this levels in April/May (circles), we've saw a good uptrend for a couple of days.
- there is no bad fundamental news.
prediction
- I think that LTC will go back down to 110USD because of the volume. (volume is the only thing scaring me in crypto world RN)
- I think that we will see a big green candle stick afterwards (big institution)
- hoping on that BTC-etf --> that is really going to change the game.
what I’m going to do:
- I set an buy-order on 110 USD, if LTC doesn't go down anymore, I will buy at 112.
- stop loss on 105 because if we go under that support, it's a free fall if you ask me.
- I’m not sure yet when to sell, it will depend on the volume/ news at that moment. But if the conditions are staying similar, is 129 USD my goal.
- remember: be greedy if everyone is scared! This moment can be ideal!
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts, again this is no financial advice!
Today a small update on the price-action of LTC. Let's get straight in to this !
So today we are seeing a relatively ‘big’ correction coming in. With the big players going down between the 5 and 12%. Let's just take a step back and try to look at the situation in a neutral point of view.
LTC is now down to 112 USD. They are back at the same level as we've seen at the end of May.
So what can be the reason of this correction in LTC?
- the volume is very low
- there is no good news coming in.
- there are no specific rumours of LTC collaborating with big players like Amazon or FB,... (like we’ve seen in the past)
Not only Litecoin went down in the crypto space, what are the main problems in crypto world:
- a lot of manipulation going on ( big institutions)
- a lot of speculators, traders, ...
- 95% doesn't use crypto for payments
- bankers are scaring everyone because they doesn't want to lose control.
BUT there is good news aswell.
- we've reached a very strong support level for LTC at the moment, the previous times we've reached this levels in April/May (circles), we've saw a good uptrend for a couple of days.
- there is no bad fundamental news.
prediction
- I think that LTC will go back down to 110USD because of the volume. (volume is the only thing scaring me in crypto world RN)
- I think that we will see a big green candle stick afterwards (big institution)
- hoping on that BTC-etf --> that is really going to change the game.
what I’m going to do:
- I set an buy-order on 110 USD, if LTC doesn't go down anymore, I will buy at 112.
- stop loss on 105 because if we go under that support, it's a free fall if you ask me.
- I’m not sure yet when to sell, it will depend on the volume/ news at that moment. But if the conditions are staying similar, is 129 USD my goal.
- remember: be greedy if everyone is scared! This moment can be ideal!
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts, again this is no financial advice!