Litecoin has been acting stronger than BTC, I assume it might grind sideways like practically all coins, until all hell breaks loose by August 1st. Most people are worried, or bearish overall, and in the recent bottoms, we saw traders unload long positions in loss, to quickly realize they had fallen for a bear trap. Until fundamental risks aren't out of the way, it is highly unlikely to see a strong trend in the cryptocurrency space, so, safest bet is to accumulate longs with the smart money in your preferred basket of solid fundamental picks in this market. I'll share my entries with my clients as usual, and we will continue to build our portfolio in preparation for the eventual resumption of the weekly rally in crypto, which might culminate in a blow off top, specially if it hits my weekly targets before the long term timeframe time expires for BTC and ETH. The closer we get to 29.54, the safer the long entry in this range...Try to average in gradually, specially when traders become vocally negative, and specially if oversold, on dips. Coins like LTC and XRP, have been accumulated for long periods of time, and might be extremely resilient, despite being affected by short term volatility and bear traps/shakeouts during periods of negativity.
Best of luck,
Ivan Labrie.
Disclaimer: I'm long LTC, BTC, XRP, among other currencies and tokens.
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So far so good, we did shoot a bit higher as expected, now we might turn to ranging again.
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Market is sideways as expected, people shouldn't have expected an immediate breakout in any coin before August...either up or down.
Trade active
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Bought LTC spot It's the only coin that is up for the day today vs fiat
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Possibly time to move higher:
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Overall right, although I had more profits in BTC and ETH. I'm not in this one. It is good for people looking to diversify, I'm personally trying to squeeze the maximum performance with low risk, so, not in it.
@red2000, good observation...there's a lot of friction to get oout of poloniex. And I'm not sure if people will trust it, so they might migrate to kraken via USDT. It could become inflated, true.
IvanLabrie
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@red2000, technically, it needs to trade above 1.023, and burst higher, then it could hit 1.2191 (USDTUSD)
red2000
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@IvanLabrie, poloniex didn't respond in the last 2 month to the requests for higher withdrawal limit..they knew it coming
nimbus
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any updates?
Trader-Mick
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This is 100% accurate!
IvanLabrie
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@morshedul.sazid, thanks, but not yet, need to see it remain sideways, dropping back to support next.
blackswan
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@IvanLabrie, i plan to add on, do you suggest now? or wait for pullback? what price level would you recommend to get in?