LTC long term investment. How to trade x/BTC pairs now.
Alright. BTC is plunging so average holder of this coin would like to accumulate as much BTC as he could in case of BTC's future rallies. I strongly believe that crypto space is the future of world's tech pool, but now blind longs don't make sense. Hopefully, We will get all of these coins at cheap prices once again. It sounds unbelievable, how it even works.
I do not advice to hold any coin right now, but If You play long term there You should look for good short and collect BTC.
LTC/BTC short will bring profits, but it will be slow and draining process. I expect meeting with 0.008 once again.
Fiboncacci floors as profit taking areas.
Entry: 0.0171
Stop loss: 0.0185 (every SMA 20 crossing should activate 'red button' alert, where stronger tick would trigger it)
I do not trade alts versus BTC right now, this post has been created for traders that are in doubt sitting on bunch of BTC without a purpose.
I do not advice to hold any coin right now, but If You play long term there You should look for good short and collect BTC.
LTC/BTC short will bring profits, but it will be slow and draining process. I expect meeting with 0.008 once again.
Fiboncacci floors as profit taking areas.
Entry: 0.0171
Stop loss: 0.0185 (every SMA 20 crossing should activate 'red button' alert, where stronger tick would trigger it)
I do not trade alts versus BTC right now, this post has been created for traders that are in doubt sitting on bunch of BTC without a purpose.
Note
Note
SMA 50 retested. If You don't feel comfortable with this trade You could stop right now. However I see momentum falling and would leave stop active at 0,0185.Note
gosh, this is horizontal resistance, not vertical. I apologize for my distraction.
Trade closed manually
Well, I don't feel comfortable with this trade while BTC is the biggest unknown at these days. IMO We could look for good long term investment that could multiple gains through new uptrend cycle that is ahead.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.