LTCBTC - Litecoin - Can Litecoin "Free" Itself From Bitcoin?
LTCBTC is approaching an important level. Simple analysis here, if LTCBTC can break above 0.0022, then, Litecoin has free itself from the price movement of Bitcoin. Does not mean Litecoin is up against USD. But this is an important thing to watch out. If Bitcoin rebounds, then Litecoin may outperform Bitcoin versus USD. There are many catalysts here and there are many "calls" out there saying that Litecoin is undervalued. I will reserve my judgement. But breaking out above 0.0022 is significant. LTCBTC made a high of 0.0032 on 2015. That is something we want to worry later on.
Important things to note in trading and investing. It is all about anticipation and being ready to pull the trigger when the signals come.
Important things to note in trading and investing. It is all about anticipation and being ready to pull the trigger when the signals come.
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I would be cautious with the initial rally that LTCBTC is having here. The long term confirmation signal will come when we can close on a weekly basis above 0.0022 and stay there. I will stay aside and enter when there is a proper setup. Also watch LTCUSD for a potential setup.