It looks like LTCBTC has managed to break resistance of a wedge that has been forming since 2019 (blue dashed line zoomed in, see my previous posts for details about this resistance level).
There is still a bit of resistance above the current ascending channel (dotted yellow line), but the target now looks to be a much longer "years-long" wedge that has been...
So how do you draw horizontal lines while trading Crypto?
I cannot stress enough on the importance of VPVR when drawing support and resistances. Here I present and example using BTC:
In 2020, most people were showing 14000 (2019 top) and 20000 (2017 top) to be areas of resistance. TA and patterns only work if the assumption behind those TA systems and patterns...
Bitcoin is king - so does that make Litecoin the 'prince of shitcoins'? One could argue Ethereum, but ETH is not from the same bloodline.
Anyways...LTC/BTC chart looks so bad that it actually looks great. I'm betting on alts to outperform the king at some point this year, and if we have anything remotely close to last alt season then Litecoin will again...
Long term Idea on the monthly chart for litecoin. This is a two year outlook so patients is key. Look at the chart... Is time to sell or buy litecoin? Litecoin is at historic lows against Bitcoin , it's time to buy. Most people won't like this chart as it's not a get rich quick scheme. What it is though, is a path to victory with a series of small wins.
We have a long way to go to get back to the highs litecoin against bitcoin experienced.
But good push equating to LTC/USDT and off the back of btc's stong performance of the day.
Good EMA, trend holding below the candles.
LTC MimbleWimble Code To Be Ready by March 15th which can give it a nice push to upwards. Nice double bottom on LTC and it will follow BTC and ETH and will break its ATH.
in 2017 we saw 6000% returns in LTC in 261 days so we can have even 1000% this year it can go to $2000.
Immediate targets are mentioned in the chart.
we discussed the same in our today's video.
Litecoin vs BTC has been in a falling wedge for a few years now.
We're now approaching the lower end of the wedge and if there's ever a time to start a rally against BTC it's now.
What does TA have to say?
We're trading below both the 50 and 200 Week MA. A breakout above the 50 MA would be a good thing as it's at about the same level as the upper end of the...
Since Bitcoin is growing, many people are reluctant to buy it. They want to buy different Altcoins.
If you really want to buy Altcoin in addition to ETH, LTC might be a good option for you.
SL: If 1D candle closes under 164.
TP: Depends on the market situation. I recommend setting up 50% on the $298. But it is safer to buy bitcoin at the moment.