Hello again everyone and good morning. I am taking a look at Litecoin daily today and I can see that we are in the beginnings of a possible uptrend. This would be most welcome to investors that have been disappointed with the performance after last years halving event. Last time I traded LTC was before last years ATH. I bought some around $90 and sold around $135 so I did pretty well for myself with that trade. But since that time it dropped a LOT! All the way down to around $35. It is now trading at $80 and looks primed to see some more gains if you ask me...
Looking at the LTC/BTC chart I can see that Litecoin seems to have bottomed. We spent a bit of time along the bottom of the fib around $35 and just recently the 200 MA dipped enough for the 50 MA to challenge it. The result will be a golden cross just like we have been seeing on multiple different alt coins. Good news for all those hodlrs out there that have been waiting for a miracle.
I work with a guy that bought quite a bit of LTC in late 2017 and early 2018 and he asks me almost everyday what LTC looks like and if I think it will get back up to 200. I cant make any promises but I can say there is certainly potential for LTC to do just that. The entire crypto market looks primed to rocket if you look at a few factors. Bitcoin halving for instance should cause a pump. It may just bring the entire market along with it for the ride. Although halving events are typically do not have immediate effects on the price I am still going to keep my eyes on the charts just in case. As the market grows things could change and people may jump the gun trying to take a position before the halving.
Another reason I am bullish is the golden cross on the daily charts of multiple coins. There is either a golden cross coming or just happened on multiple coins from BTC to LTC to BCH to NEO and more!!! The combination of all these golden crosses and the halving event coming in May we may see some fireworks that could possibly resemble 2017. Now dont get too excited folks. You and I both know Bitcoin and its little brothers love to break our hearts so always be vigilant. Its easy to get carried away but leave your emotions out of the mix. Your future self will thank you for that.
The next hurdle with LTC on the daily would be this .236 fib. I do think LTC will conquer this resistance very soon mainly due to the fact a golden cross is happening literally as I type this analysis. I have already picked up a few alts. I just took some small positions and I am going to see what happens. I see a lot to be bullish about and I see that sentiment is full bull. I will be watching the charts this weekend and I will share any developments I come across. Thanks for reading! But WTFDIK right?
Looking at the LTC/BTC chart I can see that Litecoin seems to have bottomed. We spent a bit of time along the bottom of the fib around $35 and just recently the 200 MA dipped enough for the 50 MA to challenge it. The result will be a golden cross just like we have been seeing on multiple different alt coins. Good news for all those hodlrs out there that have been waiting for a miracle.
I work with a guy that bought quite a bit of LTC in late 2017 and early 2018 and he asks me almost everyday what LTC looks like and if I think it will get back up to 200. I cant make any promises but I can say there is certainly potential for LTC to do just that. The entire crypto market looks primed to rocket if you look at a few factors. Bitcoin halving for instance should cause a pump. It may just bring the entire market along with it for the ride. Although halving events are typically do not have immediate effects on the price I am still going to keep my eyes on the charts just in case. As the market grows things could change and people may jump the gun trying to take a position before the halving.
Another reason I am bullish is the golden cross on the daily charts of multiple coins. There is either a golden cross coming or just happened on multiple coins from BTC to LTC to BCH to NEO and more!!! The combination of all these golden crosses and the halving event coming in May we may see some fireworks that could possibly resemble 2017. Now dont get too excited folks. You and I both know Bitcoin and its little brothers love to break our hearts so always be vigilant. Its easy to get carried away but leave your emotions out of the mix. Your future self will thank you for that.
The next hurdle with LTC on the daily would be this .236 fib. I do think LTC will conquer this resistance very soon mainly due to the fact a golden cross is happening literally as I type this analysis. I have already picked up a few alts. I just took some small positions and I am going to see what happens. I see a lot to be bullish about and I see that sentiment is full bull. I will be watching the charts this weekend and I will share any developments I come across. Thanks for reading! But WTFDIK right?