ridethepig

ridethepig | LTC Market Commentary 2020.01.06

Long
COINBASE:LTCUSD   Litecoin / U.S. Dollar
Finally guess who is back??? You know what that means...Macro coverage in the live channel and charts on Tradingview all day everyday will resume as usual with today's session!

Lets jump straight in...LTC is in the habit of pinning bears by choosing the momentum manoeuvre via a breakout. Bulls have done very well in this way so far, the logic which seems to justify the selling absorption is based on two premises:

=> Firstly the auxiliary flows via risk which have been brought over to Crypto via US-Iran. Buyers as usual are rewarded favourable for unpleasantness of the shaken geopolitical arena and lack of confidence in establishment.

=> The technical underpinning needs to happen sooner rather than later before the reflationary flows exhaust - e.g:


I would also like to add that late bears who were previously betting on the breakdown of Cryptos and for LTC to go to zero are often inclined to endure their pain in being underwater for some length of time; once they capitulate (we will see the market shaken off immediately via a breakout) our targets will unlock. My view can be seen here in BTC with marching troops towards the border:


As usual thanks for keeping the support coming with likes, comments and etc coming.

Good luck all those buying dips in BTC , LTC, EOS and other Cryptos.
Comment: All eyes on the breakout here
Trade active
Comment:
Comment: First targets in play here as early as Tokyo session
Comment:

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 Private Messages Chat Sign Out