Litecoin vs Bitcoin Finds Support? Over 60% Potential Profits

19. Aug. 2019

Recently we shared a chart for Litecoin (LTCUSD) mentioning the halving event and how it all works.

We warned that the hype surrounding these events can lead prices to move lower rather than higher... And that's how exactly how it all turned out, you can see it by clicking on the image link below:

Litecoin Halving Coming Soon, Up or Down... Crash Ahead?b

We mention that prices will move higher only after the retrace is complete...

Now, looking at the Litecoin vs Bitcoin (LTCBTC) chart, we can see multiple signals that are pointing to a potential low being found, which means that Litecoin can move up next.

Let's take a look at these signals:

• Let's start with the purple circles, LTCBTC found support mid-December 2018 and started a massive run, grew over 170%.
  
  
• The last week the same support from mid-Dec. '18 was tested and we see some early reversal signals.
  
  
• 1) Support hit twice and holding.
  
• 2) Bullish divergence on the MACD.
  
• 3) RSI moving on the lows and bouncing recently from "oversold".
  
• 4) The bears are losing momentum, we can see the decreasing volume.
  

With all of the above said, Litecoin can still move lower, or consolidate for a while before moving up, just as it can quickly start to run...

The green arrows on the chart represent Litecoin's potential path.

Conditions for change: The above is only a potential scenario and the charts can easily change... In fact, the charts are always changing.

This analysis is based on the data at the time of writing. If Litecoin (LTCBTC) fails to move past EMA10 and closes below 0.007001, most of the signals above become invalid and a new analysis is needed.

We do not focus on right or wrong, instead, we buy low (around support), looking to sell when the price moves up... Pretty simple overall, in order to earn trading crypto, all you have to do is buy and hold... Be patient... And collect profits when the time comes.

Thanks for your support.

Remember to hit like if you want to see more.

Namaste.