Will it blend?
Core reasons: Too many to list at this point. It's litecoin.
Happy holidays you degenerates 😘
Core reasons: Too many to list at this point. It's litecoin.
Happy holidays you degenerates 😘
Trade active
Sorry for the terribly short Idea, I posted this an hour after weekly close and just shared my thought on the possible next few weeks. Short term:
I saw price quickly push above 120 right before weekly close and saw it as very bullish. Waking up to almost retouching 115... I honestly believed we could've seen a strong retest of 120 and then continuing to 131-138. Sadly this did not happen as 124 seems to be a sticky point for LTC atm.
We are still early in this week and as long as price can maintain here this remains a good spring board level (110-120). I'll be looking for buying signals around 113-108. I have a trade active already @105 so not rushing more without good confirmations.
Long term:
Fundamentals remain some of the best in the crypto space.
1: 3rd most utilized crypto
2: Fees? What fees?
2: OG community and leadership
3: The game changer, can push new technologies first(due to it's leadership)(code wise)
4: ETF's inbound
5: Crypto friendly environment being established in governments especially the US
6: Same core fundamentals as BTC(just better and faster)
7: New MWEB protocol for increased security and identity protection in play.
8: Roughly 10% of it's market cap in transaction daily(~$800M)
9: Proven the test of time and 0% downtime in over 12 years!
Bad side:
1: LTC is used as a value changer, which is one of the main reason we see such "stability" in price imo.
2: Somewhat overbought although consolidating.
3: Lack of interest and focus being on shitcoins/BTC atm.
Here's a short term chart to show where I'm looking to possibly buy more:
On average bullish weekly candles run 30-50%. So we can see price at 150-180 from the 120 close in the next week or two.
LTC remains under appreciated imo and has extreme potential for price to catch up to the tech. The general bullish atmosphere around crypto could see LTC yield good returns. Regardless, trade with diligence as this is considered a high point. Things can get wild.
Order cancelled
Giving back all the gains from Tuesday threw a wrench in this weeks outlook. Unless LTC posts 15% daily gains back to back we wont see a breakout from this range. I'm still bullish but could not get a good buying position. I almost bought at 123 but seeing it break my level I decided not to chance it. The Tuesday pop I had no way of capturing as it happened outside my buying parameters. Hopefully some got to take some advantage of the move. Still optimistic we can see 140+ in the next few weeks and end the month strong at 150-160 so I'm holding onto my ~105 positions.
Note
Blue being very optimistic, green most likely, red for worst case
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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.