LTC To Retest $40 Levels in-tune with BTC before Recovery

Sep 20, 2017

LTCUSD



LTC similar to BTC is expected to retest $40 levels before full recovery. As most of you know, alt-coins tend to follow BTC's trend whether up or down. The Litecoin development team is hard at work which makes LTC a good long term investment. I do recommend going long if you already have LTC however if you did not purchase during the last dip then you may want to stay neutral as the market corrects itself after a good number of FUD scenarios. This however may/may not happen depending on a number of factors such as new regulations on crypto-currencies as a whole across the globe. Read my related idea as to why BTC may retest $2900 levels.

According to the charts, a breakout above the moving average seems possible however this may be a small bullish bump before a downward trend initiates toward $40 levels.

The current investment strategy for me would be to stay neutral and watch as things change.

Please note that my views are not to be considered trading advice or knowledge. My thoughts on this matter are exactly that, thoughts. I will not be held liable for losses on your part after your decision to follow what I have mentioned here. That being said, Thank you for reading my perspective. Leave your thoughts below.