Many thought segwit lock in would be a sell the news type of event, but we shall see.
Although LTC was once pronounced dead for years, it has awoken and reborn!
LTC has now locked in segwit. After the next activation period it will be live from my understanding. After that will come Litening Network, Coinbase Announcement, and more developments to come.
The trend is your friend, Litecoin is still very and it's possible it could test all time high this year. It's one of the only quality alts that has yet to test it's all time high, and now has a fundamental shift and reason to do so.
This is just a personal idea, this isn't perfect trading advice. I'm still new to detailed . Do your own research and trade on your own ideas.
(I think a very modest target range would be $20-30 USD, but it's possible to break all time high this year if LTC can maintain momentum in development.)
Will be updating the charts along the way to see how it goes.
Now is still a good entry, but maybe leave some dry powder to buy more if it hits sub $14. It looks like $13 should be the new bottom from here.
Here's an updated look at the LTCCNY pair. We had a big red wick that found support at the cloud where it bounced. This could mean the immediate trend is flipping and we will now move up.
Overall I think it's entirely possible to move mostly sideways for the next week or two before the next big leg up.
This can change at any given moment and if/when Litecoin is integrated with Coinbase I would expect another big leg up. Lightning network should also be integrated soon after segwit is live (in 2 weeks).
Like I said, it very well may trade sideways for a week or two and it's possible to average in a bit lower during that time as we see ups and downs. This should provide a good opportunity to accumulate.
If you already have a position, stay patient. This is more of an accumulate and hold time period for litecoin than a margin long until we receive more bullish indicators of next big leg up.
Either way, this coin has massive potential this year if you have the patience to stay the course.
Best of Luck & Happy Trading!
There are some potential bullish signals to keep an eye on. Once we cross above the 20 & 50 day MA again, it will likely trigger another big leg up.
It's still a good time to accumulate and average in for an early entry. For a safer entry, wait until we break above these points.
No one knows specifically when LTC will be added to Coinbase, but I expect a nice bump in price from current $14-15 range to the $20-25 range easily. It has potential to hit new all time highs ($50 range) this year if we maintain bullish momentum and development.
On the 2 hr timeframe, we can see that we've crossed 20 day MA, but not 50 day yet.
If we cross this, expect another leg up shortly after.
If you notice, LTC tends to move up quickly, then move sideaways for a while before continuing upwards trend lately.
You can see we're getting very close! This could be seen as an early entry signal (riskier/higher reward potential). OR wait for further confirmation on 2hr/4hr timeframe for a safer entry.
Once this breaks through we should be off to $20 with ease.
If we see it repeat, it's likely a good margin long position.
Everything has been pumping today while LTC has been patiently waiting.
This is a look at the 30 min which gave an earlier indication last time.
Higher risk & reward to take position here. I'm adding to my current position now. (no leverage since it's the weekend). Either way we're heading to $20-$30 range soon so fill your bags before it's too late!
Reposted one hour chart... here's the 30 min chart.
Looks like we're fueled and ready to start the next leg up. May see pullback along the way, but it looks like it's now safe for a nice 2-4 day swing trade.
Bullish TK Cross
Bullish Signal Above Cloud
Bullish Kumo Twist Soon
I think we may retest the cloud for support and bounce up before the next big move up.
Segwit will go live in less than 9 days. From Charlie Lee's account, I believe he mentioned Lightning Network also being activated at the time.
You can track Segwit Activation Time Here:
LTC will most likely fly under the radar in an accumulation phase until we get closer to segwit activation. Buy, Hodl, Accumulate right now while others are fixated on Bitcoin and making panic moves elsewhere.
Don't open any margin positions until we see a clear breakout!
Accumulate while others aren't paying much attention to it.
New High in LTCCNY pair today.
Bullish TK Cross
Maintained Level Above Cloud
Higher Highs & Higher Lows
All signs bullish to continue to move higher. This is without Coinbase news and without Segwit activation still.
This is much stronger angle break on 20 & 50 day MA than last week. Last week's signal was a little premature but would've been alright. This looks like a much safer entry now and I'm not going to call a top or limit here.
Exit as you see fit, but I plan on hodling until further notice.
All signals extremely bullish for LTC. TA + FA both bullish!
TK cross, Kumo Twist, and MA signals this will be another parabolic move upwards.
Margin long now open, let's see where she goes!
Fundamentals have never been stronger for Litecoin. Litecoin will test it's all time high this year and break through the $50 USD mark.
It's been holding strong during the latest BTC run up as well.
HODL strong and be rewarded.
Bounced off the cloud and recovered with strength. This looks like a bullish continuation to me.
Be a strong hand and don't be shaken out.
Another Kumo Twist + 20d MA crossed the 50d MA again.
This is still looking very bullish overall. Hodl or add to position here on this little pullback
In the big picture, this trend is still very much in tact. Hold and/or add to position on dips.
Looks likely to test the 155 range now, or even as low as 140ish.
Out of this trade for now, will look for a better reentry in near future.
Still bullish long term, short term correction and consolidation it looks like.
Will post another idea in future.
Here's an updated LTCCNY chart. Looks like we could move sideways a bit before next leg.
Keep in mind in 1 day and 1 hour from now, Segwit will officially be activated and live on the network.
Is this priced in already? I don't think so.
With the Coinbase addition of Litecoin, many new retail investors have access to LTC and will pour money into it after seeing gains in ETH and seeing how expensive BTC is. LTC will look attractive at $30ish and it will easily test $50-$100 range this year.