We may see a nice uptrend for Litecoin/Bitcoin price. We can see the 20W MA has crossed the 50W MA, known as a golden cross, this is a strong indicator for an uptrend. We can also see support coming at the 2/1 Gann line. With bitstamp around the corner we may see Lite coin get very close or even surpass its ATH versus BTC, not with some resistance, however, I expect a test around the 0.0117 level.
Note
We can see this trend is confirmed, BTC dropping massively. Litecoin also dipping a bit, posted a chart yesterday indicating a short position on litecoin but deleted it to post this one, regret this greatly now. Anyhow, if we see a Bitstamp launch and the current trend continuing we may see some new highs hereNote
Bitstamp has hinted that it will laurels launch Lightning network with litecoin launch, check out their latest tweet and decide for yourself :)Note
We can see the uptrend pattern has broken a bit, I expect to see some sideways movement, maybe some small dips before a nice rise next week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.