Litecoin, it's life Jim, but not as we know it
Litecoin might not be ded.
LTC has underperformed BTC and the Alts which are having a bit of a moon party right now and LTC is sort of hanging around behind going 'guys? guys?' having missed the lift to the party.
However it might not be ded ... the charts are showing a potential inverse head & shoulders building up in LTC/BTC and cup & handle in LTC/USD which could decide to break out in the next 1 week or so.
Currently flat but watching carefully for long
LTC has underperformed BTC and the Alts which are having a bit of a moon party right now and LTC is sort of hanging around behind going 'guys? guys?' having missed the lift to the party.
However it might not be ded ... the charts are showing a potential inverse head & shoulders building up in LTC/BTC and cup & handle in LTC/USD which could decide to break out in the next 1 week or so.
Currently flat but watching carefully for long
Trade active:
Bought a handful of LTC as we start to move up vs. BTC
Trade closed: stop reached:
Got stopped out of LTC/ BTC at the right shoulder low. Thankfully a small position and just 2% account loss.
When trading ensure no more than 2% of account is risked to stop. This way you manage your risk and live to trade another day
When trading ensure no more than 2% of account is risked to stop. This way you manage your risk and live to trade another day
As a result, LTC is not looking attractive for longs right now. It could rally back up to the neckline triggering a breakout to 0.02 but it could also break down to 0.014. Too risky