Technicals
If price drops in the short to mid-term (the scenario I expect) then buy orders could be executed around +- 0.003 BTC/LTC zone (a mid-term bullish structure will form)
First Long-term Sell Target: 0.0079 BTC/LTC
If the price rises slightly in the short to mid-term (unlikely scenario) then either:
1. A continued gradual decline in price to form short-medium term bullish structure
2. A break above the long term resistance line (+-0.006 BTC/LTC), before creating some bullish structure (inv H&S perhaps)
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC)
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
- LTCBTC is in a long term buy channel where volume seems to be drying up (at least on this exchange)
- Pattern wise we might also be forming a long-term descending bullish wedge
- RSI on weekly and monthly shows oversold
- Risk to reward ratio is relatively low
If price drops in the short to mid-term (the scenario I expect) then buy orders could be executed around +- 0.003 BTC/LTC zone (a mid-term bullish structure will form)
First Long-term Sell Target: 0.0079 BTC/LTC
If the price rises slightly in the short to mid-term (unlikely scenario) then either:
1. A continued gradual decline in price to form short-medium term bullish structure
2. A break above the long term resistance line (+-0.006 BTC/LTC), before creating some bullish structure (inv H&S perhaps)
Fundamentals
-Litecoin halving took place last year Aug 2019 and reduced mining reward from 25 to 12.5 LTC per block (supply shrinkage)
-CIrculating supply of 65,076,429 LTC
-Other than the large number of coins the "benevolent dictator" himself potentially owns, LTC continues to remain decentralized, one of the oldest coins other than BTC
-Able to make cheaper and faster transactions compared especially for smaller amounts compared to BTC (compliments BTC)
-Implements updates faster (e.g. SegWit)
-Mimble wimble block with optional private transactions to be released
-Is not one of these print-my-own-money-out-of-thin air ICO paper projects or deFi hype projects, real implementation of one of the best uses of blockchain "currency"
-FED and other-reserve banks have been devaluating fiat through QE market stimulus measures
