LTC is definately BUY, TA and FA Harmony.

BITFINEX:LTCUSD   Litecoin / Dollar
351 10
Ok, guys, we have been taking a step back to see where it was going. had to close all LTC positions, and waited to see if BTC would finally stabilize at a good support. So far it seems that we have found good support and we have a ranging market. This brings new opportunities for the average trader.



On the 18th there is a hard fork coming where all LTC holders will get LTC Cash. I don't expect LTC Cash to be a massive hit at the beginning, but Charlie's idea of a faster and cheaper network makes a lot of sense, and will actually become a coin for real use. We all know that LTC has enough fame to be a potential contender, so improving the usability of the coin makes it the more attractive.

Let's take the bearish scenario into account, and assume we get a BTC slide all the way down to 6k again, full crash and everybody screaming for help. In that scenario, LTC would certainly suffer and we would see it goe all the way below the 100 dollar level. Same as what we had when we started trading LTC back in Novemeber 2017. But there is a major difference, you would get free LTC Cash.

And this new coin won't appreciate to the BTC Cash levels, but it would certainly appreciate over time. So it is a good mid-term investment. This means that you would have to hold or liquidate your LTC at the crash but keep holding your LTC Cash throughout the storm. And after it passes you will recoup your losses with a profit.

So it is not that bad. is it?

Now the TA.

We are seeing good support hold, and finally have broken the inner Trendline with a retest of the breakout, which is GREAT!!, this means that in all likelihood we are going to the outer trend line and hit the minor D extension at $190. at which point we would retrace back to the upper 100's before making the jump above the $200. Will this happen overnight? NO, we are ranging, and with a lot of uncertainty. We do not have bullish momentum and technically this trade needs a more time to develop. But also we are at a good spot to enter.

I went big and recommend you do too. The downside is still a good scenario!

I will update this trade as it develops.


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