Is Litecoin preparing for another move?Back again with another cryptoanalysis on Litecoin. Do you think LTC is going to take off any time soon? Well, I will be brutely honest everyone will be guessing/gambling. Yes! No one really knows when the price will move to the upside. Hopefully, you are here to get a clearer idea of where to buy and sell. Don't get caught up in the hype, just keep it simple and buy low / Sell high.
LTC - in the last LTC post I made a bold buy statement on the 29th of April to buy once the price returned above $67.50. While price had dropped and closed below $67.50, the market had undervalued LTC by $1.50. My primary reason for the assumption was because of where the majority of the money was traded on the 2nd of April. If price were going to eat away at the larger candle on the 2nd of April, it would need to confirm that it could drop a lot lower than the dotted white line (POC) you see on the chart. Over the last 3 days, the price has stayed above the POC, and Weekly WVAP. Price is now moving sideways glued to the monthly VWAP. If you want to take anything away from this chart and the current price you still have a great time to buy as price is only barely sitting in the value area. We are now in May so a new monthly trend will need to form. If you are buying at this price, there will be some uncertainty between $75 and $80.
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"Patience is the key to any market" - Nathaniel.
Next update will be next week - Thank you for your love and support.
Regards
Nathaniel - "THe BiPolar TraDer"
Little Big Movement
