Litecoin has been incredibly good to me.
Today I bought back in as I see potential for some more huge increases :)
Fundamental
To back it up, here is the previous trade ideas:
"Coinbase money may be dumb, but oh so powerful!" (Third)
"Hodl those Litecoin's, impulse wave is forming again!" (Second)
"Let's Segwit This Coinbase Addition!" (First)
Today I am adding Litecoin to my portfolio yet again!
If you see the latest update on previous trade idea:
You can see that the buy area I draw was actually a perfect place to take out some longs.
However, I was on vacation during the most part of correction, and when I got back it was time to go from 30 to 20 coins (because of large increases).
It just wasnt room for it, but today I had to buy. It's added in my portfolio spreadsheet.
The coin that had to go was Enjin (1364% profit)
The thing that pushed me over the edge today was Charlie Lee's Tweet.
95% of Litecoin's marketcap has been sent on it's blockchain within the last 24 hours.
Bitcoin (15.66%) - Bitcoin Cash (13.95%) - Ethereum (19.51%) - Dash (3.28%) - Litecoin (94.64%)
That's huge! To me, it looks like Litecoin has become the favorite coin for traders/investors to send funds around exchanges.
Personally I have also received a good portion of Koinworld payments in LTC after I activited it.
Bitcoin is expensive and slow, Litecoin works fine. When lightning and all that comes more into play, Litecoin could lose marketshare, but that's in the future.
I will keep updating this chart for as long as I hold Litecoin :)
And oh! We also got an exchange launch by the japanese entertainment conglomerate, DMM. New's Article.
7 Crypto's added, Litecoin included. Could provide some gains for all the pairs. Exchange is launching 11 January.
If you look closer into the exchange rates you can see a couple bullish points as well.
One, Coinbase leads in volume. That means new money is buying it.
Two, Korea has 42% premium on Litecoin and 37% premium on Bitcoin. Not a very big difference, but it could be a sign from Korea on high demand for LTC.
Technical
I've found a new channel, and I like it. Could provide some short term trades in the future. You can also see I've included a pitchfork to help out with finding those short term trades.
If you look at the little red box in middle of chart, it's areas like that I like to either sell for good or trade.
Resistance from top of channel, resistance from 0.618 of pitchfork and there is the 1.618 fib from last bullrun.
Though, I think we could go higher then that in the mid term.
My final target is right below the 3.618 from last bullrun, at 1350 USD
Today I bought back in as I see potential for some more huge increases :)
Fundamental
To back it up, here is the previous trade ideas:
"Coinbase money may be dumb, but oh so powerful!" (Third)
"Hodl those Litecoin's, impulse wave is forming again!" (Second)
"Let's Segwit This Coinbase Addition!" (First)
Today I am adding Litecoin to my portfolio yet again!
If you see the latest update on previous trade idea:
You can see that the buy area I draw was actually a perfect place to take out some longs.
However, I was on vacation during the most part of correction, and when I got back it was time to go from 30 to 20 coins (because of large increases).
It just wasnt room for it, but today I had to buy. It's added in my portfolio spreadsheet.
The coin that had to go was Enjin (1364% profit)
The thing that pushed me over the edge today was Charlie Lee's Tweet.
95% of Litecoin's marketcap has been sent on it's blockchain within the last 24 hours.
Bitcoin (15.66%) - Bitcoin Cash (13.95%) - Ethereum (19.51%) - Dash (3.28%) - Litecoin (94.64%)
That's huge! To me, it looks like Litecoin has become the favorite coin for traders/investors to send funds around exchanges.
Personally I have also received a good portion of Koinworld payments in LTC after I activited it.
Bitcoin is expensive and slow, Litecoin works fine. When lightning and all that comes more into play, Litecoin could lose marketshare, but that's in the future.
I will keep updating this chart for as long as I hold Litecoin :)
And oh! We also got an exchange launch by the japanese entertainment conglomerate, DMM. New's Article.
7 Crypto's added, Litecoin included. Could provide some gains for all the pairs. Exchange is launching 11 January.
If you look closer into the exchange rates you can see a couple bullish points as well.
One, Coinbase leads in volume. That means new money is buying it.
Two, Korea has 42% premium on Litecoin and 37% premium on Bitcoin. Not a very big difference, but it could be a sign from Korea on high demand for LTC.
Technical
I've found a new channel, and I like it. Could provide some short term trades in the future. You can also see I've included a pitchfork to help out with finding those short term trades.
If you look at the little red box in middle of chart, it's areas like that I like to either sell for good or trade.
Resistance from top of channel, resistance from 0.618 of pitchfork and there is the 1.618 fib from last bullrun.
Though, I think we could go higher then that in the mid term.
My final target is right below the 3.618 from last bullrun, at 1350 USD
Note
Let's look at it from a more short term perspective :)First resistance I can see is at 350 USD. But it's not before 620 USD I want to act!
Note
Let's take an even closer look, and shift over to the 1H :)Note
Note
And back down again, but we should be at strong support now :)Note
Let's have a look at Litecoin today:Note
Note
Almost down to the trendline :)Trade closed manually
I have sold my LTC position!Looking to get out of some coins today, and LTC has outperformed the market.
I'm not really that bullish on it so good time to get out.
Sold at 216 USD, down 17.6% on this one.
Got caught in the crash, so considering, not to bad.
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.
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.