Double bottom, downtrend reversal, Long Litecoin/BTC
Litecoin is at the lowest levels relative to Bitcoin in its History. The double bottom formation, is creating a great set up for the reversal. Long Litecoin.
Litecoin has also broken out of a multi-year downtrend. Found support, hold on Ladies and Gents.
Litecoin has also broken out of a multi-year downtrend. Found support, hold on Ladies and Gents.
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Currently watching the LTC/BTC ratio test the 50 Day SMA as support. If confirmed a rapid rally to the upside on the Horizon. The 50 Day SMA is curing upwards, been a promising signal in recent history.
I believe we are seeing the building of an ideal Long litecoin against Bitcoin swing trade. Examining the daily candles, we are seeing continuous strong green candles. I believe that this is a great consolidation zone to accumulate litecoin.
Although not financial advice, the way I have undertaken this trade is using Binance cross 3x LTC/ BTC. This is one of my strongest conviction swing trades at present. I believe the underlying risk to the downside is limited due to a historically favourable ratio range. With large upside if this trade performs similar to the past, the High reward and relatively low-mid risk has entered a favourable entry zone.