We are seeing spectacular price action on LTCUSD with volume to back it.
The current extension reaching ~$400 LTCUSD (Coinbase) appears to be relatively sustainable, given the macro forces at work:
1) Litecoin marketing push
2) The cognitive bias and public perception of Litecoin's price being "cheaper" than BTCUSD, as such, more people are placing buys
3) The usage of LTCUSD as a conduit for moving other cryptocurrency around, as well as extracting it more efficiently (see: How To Sell Crypto FAST)
The technicals appear to be positive in respect of the support levels nicely landing on the FIB levels from the previous range bound price action.
I won't be looking at buying during the price extension, until if/when it cools to more align with the 0.5 FIB level (Support 2).
Trading Standpoint: LONG
What are your thoughts? Are you feeling severe FOMO? Have you made a killing?
A Game of Coins
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The current extension reaching ~$400 LTCUSD (Coinbase) appears to be relatively sustainable, given the macro forces at work:
1) Litecoin marketing push
2) The cognitive bias and public perception of Litecoin's price being "cheaper" than BTCUSD, as such, more people are placing buys
3) The usage of LTCUSD as a conduit for moving other cryptocurrency around, as well as extracting it more efficiently (see: How To Sell Crypto FAST)
The technicals appear to be positive in respect of the support levels nicely landing on the FIB levels from the previous range bound price action.
I won't be looking at buying during the price extension, until if/when it cools to more align with the 0.5 FIB level (Support 2).
Trading Standpoint: LONG
What are your thoughts? Are you feeling severe FOMO? Have you made a killing?
A Game of Coins
Created to share | Cryptocurrency| Trends | Trading | Investing | Data Analytics
Join us on Twitter and Telegram
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