Litecoin, taking some off the table
The current trend on LTC is still very much bullish, but with a 40% move in less than 48hrs (possibly 24hrs) we need to consolidate for awhile.
Looking at the ltc/btc chart we are at all time highs. This may be a double top. We may break through it, and in that case we could go a lot higher.
For every coin not named Bitcoin, I trade primarily by looking at the abc/btc charts, not abc/usd charts. Something else I do is look at coinmarketcap.com and see which markets have the highest volume and take these markets into account as well. It still comes back to the dollar because thats how to trade BTC and as BTC goes, so goes the market.
P.S. Its looking more and more like my last post was correct in that we found our bottom at just under 6k on BTC. I am adding to BTC with LTC profits. Same strategy used with ETH when it was 1300+.
Looking at 2 posts ago. Selling ETH was a good call and at this moment looks the weakest among the ones that can be bought through Coinbase/GDAX.
I have not traded many ALT's this past month. But I have added to long term positions in NEO, EOS, XMR, ZEC, and GBYTE. On a technical analysis basis I dont feel confident saying they will outperform BTC (EOS technicals look the weakest) but I do like what the long term risk/reward of each.
BTC is currently 50% of portfolio excluding cash.
LTCUSD
LTCBTC
Looking at the ltc/btc chart we are at all time highs. This may be a double top. We may break through it, and in that case we could go a lot higher.
For every coin not named Bitcoin, I trade primarily by looking at the abc/btc charts, not abc/usd charts. Something else I do is look at coinmarketcap.com and see which markets have the highest volume and take these markets into account as well. It still comes back to the dollar because thats how to trade BTC and as BTC goes, so goes the market.
P.S. Its looking more and more like my last post was correct in that we found our bottom at just under 6k on BTC. I am adding to BTC with LTC profits. Same strategy used with ETH when it was 1300+.
Looking at 2 posts ago. Selling ETH was a good call and at this moment looks the weakest among the ones that can be bought through Coinbase/GDAX.
I have not traded many ALT's this past month. But I have added to long term positions in NEO, EOS, XMR, ZEC, and GBYTE. On a technical analysis basis I dont feel confident saying they will outperform BTC (EOS technicals look the weakest) but I do like what the long term risk/reward of each.
BTC is currently 50% of portfolio excluding cash.
LTCUSDLTCBTC
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