BTCryptowatch
Long

Keep ready for LTC. UP

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTC is trading (consolidating for a while now.

We see a bullish flag forming since several weeks now. We are right at the tip of the flag which should in case of a breakout trigger huge upward momentum.
A breakout to the downside seems less favorable since we 've been forming higher lows since late december. Any break down would likly create a short lived spike below the trendline recovering quickly with big buy orders.

Projected target upside is 161% fib level with about 600 USD. (almost triple from current)

Position yourself in LTC now, any buy below 300 usd looks like a good deal to me (compare ltc to Etheriums and others and see how undervaleud Litecoin is). I usually make no predictions value wise but LTC should (could) theoretically be worth 1/4th of Bitcoin .

Do the math and see the opportunity :)


Good luck, trade safe.


Comment: Guys, the spike to the downside is a great example of why you either need to have stops, or be prepared with a plan B when the market turns against you.

We had 2 isseus that made Altcoins bleed.

1.: china and Asia FUD news about possible bitcoin ban

2: future contracts ending valid fro one month dec 18/ jan 17) Offcourse bankers sold off these contracts and started short selling bitcoin. Doing that to start the new contracts at a much lower price ensuring big gains.

Now bankers entered the bitcoin market you must be aware of manipulation.

I recommend preparing yourself and NOT panic sell when things turn against you. Panic selling inflicts a gigantic mass hysterical downward spiral if 50 % of the market reacts like that.

So PLAN PLAN PLAN, both entry and exit.

Take care, trade safe
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