"Litecoin does look quite good from a long term standpoint, but with Bitcoin hovering near 6000, I would be wary longing. Litecoin may pop off in a black swan event similar to XRP and DOGE, so you may buy the breakout. "
That was my comment from the last Bitcoin idea. Now I am long LTC and up over 4%. I have bought more LTC 9550.
I expect this rally to go 20% percent or higher in a black swan event similar to Doge or Ripple. Once it completes, we may short Litecoin to the ground. However, Bitcoin must be moving up to 6900 for this to happen. I believe it will so I posted this chart.
Buy:
9550
9464 (most likely target)
9365
Stop Loss:
Close below 9290
Take profit:
11000
My take profit will be manual as I can monitor.
Even if Litecoin closes back below, there is still a chance for it to pop off, as long as it holds 8363 and moves back up.
Thanks for viewing! Doge and Ripple popped off. I believe Litecoin will do the same.