Litecoin (purple line) is showing major strength during the recent market correction. When we compare it to Bitcoin and Ethereum, it looks to be holding its own very well during this time. It's also setting up a bull flag which should push it to $60 when the market recovers.
I like what I'm seeing. Although I'm very bullish on Litecoin, if your looking to rebalance your portfolio, now would be a good time to sell some of your Litecoin (or invest new money)... and buy up some other crypto currencies which have dropped a lot during this current down turn. There are a lot of solid cryptocurrencies down 20-30% compared to that of Litecoin which could optimize profits in the short term. Ethereum being one of them.
For those that want to know a little more about my trading style, I'm more of a long term investor/trader. I ignore short term ups and down and I tend to trade major shifts in the market rather than short-term/intra day trading. I try to identify major cryptocurrencies/block chain projects that show future potential and invest in those for the long run. For the most part, I try to move around existing profits from previous crypto investments and build my portfolio from there. I rarely bring new money into my portfolio unless its from mining or dividends. I have a set budget for this space and try to optimize it to the best of my ability.
Happy Trading!
I like what I'm seeing. Although I'm very bullish on Litecoin, if your looking to rebalance your portfolio, now would be a good time to sell some of your Litecoin (or invest new money)... and buy up some other crypto currencies which have dropped a lot during this current down turn. There are a lot of solid cryptocurrencies down 20-30% compared to that of Litecoin which could optimize profits in the short term. Ethereum being one of them.
For those that want to know a little more about my trading style, I'm more of a long term investor/trader. I ignore short term ups and down and I tend to trade major shifts in the market rather than short-term/intra day trading. I try to identify major cryptocurrencies/block chain projects that show future potential and invest in those for the long run. For the most part, I try to move around existing profits from previous crypto investments and build my portfolio from there. I rarely bring new money into my portfolio unless its from mining or dividends. I have a set budget for this space and try to optimize it to the best of my ability.
Happy Trading!
Trade closed: target reached:
Litecoin held up beautifully during the last crash from Jul 4-16.
Litecoin is also at a major reflection point on its technical chart, if it breaks that floor to the downside we may see Litecoin meet up with the rest of the big 4 downstairs.