LTC.USDT (Y20.P4.E1).Looking to go long
Updated
Hi All,
With the Paypal announcement, LTC got a media boost (my opinion) along with BTC, ETH and BCH, as I can recollect.
If you pay attention to LTC recent history, it was doing average but with this, as in the past, LTC supporters (like XRP or LINK) will jump in, that's the perception I get.
For me, don't care. Go with the Chart until your stopped out.
As for the chart, I have a few trend lines that make sense, as resistance and support.
Below I have the macro structure and until it breaks the upper trend line (in red), there will be that grey cloud over LTC.
The macro chart has the inverted BARR structure and its likely to break this sometime soon in the coming weeks. This is when you should go long long on LTC.
BTC had a similar scenario, back in April.
For the short term, I'm bullish and we can the levels of resistances above.
Defi coins will get their turn however they are yet to bottom out.
Bearish scenario, if the rejection pushes the price to $50 or lower, it will take some time for LTC to gain momentum.
Just play it smart and have your stop losses tight.
What are your thoughts as BTC dominance has some more room to the upside.
Please give me a like or tick for this post.
Cheers,
S.SAri
MACRO overview:
With the Paypal announcement, LTC got a media boost (my opinion) along with BTC, ETH and BCH, as I can recollect.
If you pay attention to LTC recent history, it was doing average but with this, as in the past, LTC supporters (like XRP or LINK) will jump in, that's the perception I get.
For me, don't care. Go with the Chart until your stopped out.
As for the chart, I have a few trend lines that make sense, as resistance and support.
Below I have the macro structure and until it breaks the upper trend line (in red), there will be that grey cloud over LTC.
The macro chart has the inverted BARR structure and its likely to break this sometime soon in the coming weeks. This is when you should go long long on LTC.
BTC had a similar scenario, back in April.
For the short term, I'm bullish and we can the levels of resistances above.
Defi coins will get their turn however they are yet to bottom out.
Bearish scenario, if the rejection pushes the price to $50 or lower, it will take some time for LTC to gain momentum.
Just play it smart and have your stop losses tight.
What are your thoughts as BTC dominance has some more room to the upside.
Please give me a like or tick for this post.
Cheers,
S.SAri
MACRO overview:
Comment
BEARISH ScenarioComment
Comment
IF it was to pull back, nice entry level for longComment
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