LTCUSD (Litecoin) – Week 16 – Market structure clues
Grayscale had revealed a day earlier in a separate tweet that it owned $45.1 billion in crypto securities, showing that the crypto asset manager had increased its reserves by ten figures in just 24 hours. Data from the cryptocurrency futures trading and information platform Bybt shows that Grayscale increased its holdings in four altcoins over the past 30 days. In the past month, Grayscale bought 36,215 Litecoin (LTC).
According to a press release, ETC Group, a cryptocurrency-backed securities specialist, will list the Physical Litecoin exchange-traded commodity (ELTC) on Deutsche Boerse's XETRA on Wednesday. It builds on the popularity of the Group's Bitcoin product (BTCE), which has amassed over $1 billion in assets in only seven months after its initial public offering, demonstrating the increasing appetite for products that enable investors to experiment with cryptocurrencies whilst avoiding the risks and regulations that come with them.
After the big move to the upside that Litecoin had, we are now anticipating a consolidation happening in this price range before continuing the uptrend to eventually reach new all-time highs. We advise caution trading this pair. The market structure must be studied piece by piece before making trade decisions. If you are a long-term investor, there are no worries.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
According to a press release, ETC Group, a cryptocurrency-backed securities specialist, will list the Physical Litecoin exchange-traded commodity (ELTC) on Deutsche Boerse's XETRA on Wednesday. It builds on the popularity of the Group's Bitcoin product (BTCE), which has amassed over $1 billion in assets in only seven months after its initial public offering, demonstrating the increasing appetite for products that enable investors to experiment with cryptocurrencies whilst avoiding the risks and regulations that come with them.
After the big move to the upside that Litecoin had, we are now anticipating a consolidation happening in this price range before continuing the uptrend to eventually reach new all-time highs. We advise caution trading this pair. The market structure must be studied piece by piece before making trade decisions. If you are a long-term investor, there are no worries.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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