Litecoin Lags with BTC. the sideways trades.
Updated
Litecoin is moving slower than Bitcoin at this point. It has fallen all the way down to its support and is lulling there.
If Bitcoin takes off and leaves LTC behind and we fall out of this channel it will be worth it to open a short.
Probable outcome shows moving averages breaking out of this current steep triangle we have formed and will cause LTC to shoot up when BTC stabilizes more.
This will cause LTC to have resistance at 0.0177 and touch 0.018 before turning back down to reload and prepare for the now very large breakout which should happen later in the week.
It is not likely LTC will break 0.018 on this run up but in Crypto all things are possible.
If Bitcoin takes off and leaves LTC behind and we fall out of this channel it will be worth it to open a short.
Probable outcome shows moving averages breaking out of this current steep triangle we have formed and will cause LTC to shoot up when BTC stabilizes more.
This will cause LTC to have resistance at 0.0177 and touch 0.018 before turning back down to reload and prepare for the now very large breakout which should happen later in the week.
It is not likely LTC will break 0.018 on this run up but in Crypto all things are possible.
Trade active
Comment
Litecoin bounced from the red danger zone without confirming it as a sell signal and is now on it way to breakout of the descending wedge triangle.Trade closed: stop reached
Danger zone confirmed. in for a dip
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.