LTC outperforming BTC
已更新
Apart from the TA
With coinbase being the top #1 app on iphone and new people coming in, the price of LTC keeps rising. While technology wise there is not much of an advantage, the price has a big psychological influence. Accessibility is the highest, because of coinbase. This is why LTC currently has advantage over better technologies like Dash. I would like to remind you, that there is a lot of FOMO going on right now and people are greedy as fuck. They will go for whichever coin gives the most return. If only 10% of BTC marketcap would flow into LTC, wthis would result in several hundred percentage price increase.
Technical
We see that LTC bounced from 160 Level to 0.5 FIB. We went under the EMA and RSI cooled down. Currently we are overextended on both these indicators. Next psychological barrier is 200 and same retrace would bounce to last ATH at 160. From there we enter our long until 240 (+50%) with stop loss at 130 (-20%) which is a nice 1:2.5 trade opportunity.
With coinbase being the top #1 app on iphone and new people coming in, the price of LTC keeps rising. While technology wise there is not much of an advantage, the price has a big psychological influence. Accessibility is the highest, because of coinbase. This is why LTC currently has advantage over better technologies like Dash. I would like to remind you, that there is a lot of FOMO going on right now and people are greedy as fuck. They will go for whichever coin gives the most return. If only 10% of BTC marketcap would flow into LTC, wthis would result in several hundred percentage price increase.
Technical
We see that LTC bounced from 160 Level to 0.5 FIB. We went under the EMA and RSI cooled down. Currently we are overextended on both these indicators. Next psychological barrier is 200 and same retrace would bounce to last ATH at 160. From there we enter our long until 240 (+50%) with stop loss at 130 (-20%) which is a nice 1:2.5 trade opportunity.
注释
Created Orders at 170/165/160 so the average is within the buy zone.注释
resistance crushed. I will increase buy orders accordingly to 0.5 FIB currently at the 30 EMA at 170/175/180$. As you can tell from the description I am bullish on LTC and am looking for an entry. Nevertheless it is really overbought right now.交易手动结束
No correction whatsoever. This is FOMO-Land. 50% in one day is just too overextended. Getting in right now involves a lot of risk. Looking for other opportunities.
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