Morning everyone. Quick post from mobile. Seems that LTC and other alts want to lead BTC higher like they did earlier this year but ran into stiff resistance at the 50 SMA on a daily chart. Some are slightly above, som are a little below.
If you’re a long term investor, we’re probably in a good period to accumulate. Especially BTC since it’s next in the chute for halving. Trading, on the other hand, is a different story IMO. Important to wait for price to confirm an uptrend. In LTC’s case I’d like to see a daily close in the top 3/4 of the candle above $77.57. Similar strategy for other alts. Without that I think they’ll remain in a downward channel as BTC is accumulated the next few months prior to halving.
Not financial advice. Good luck!
If you’re a long term investor, we’re probably in a good period to accumulate. Especially BTC since it’s next in the chute for halving. Trading, on the other hand, is a different story IMO. Important to wait for price to confirm an uptrend. In LTC’s case I’d like to see a daily close in the top 3/4 of the candle above $77.57. Similar strategy for other alts. Without that I think they’ll remain in a downward channel as BTC is accumulated the next few months prior to halving.
Not financial advice. Good luck!