Possibly the least risky & most profitable trade of the year
LTC is currently heavily oversold. It is at the bottom of the multi year linear trendline at the moment and history has shown that it moves in concert with BTC when it pumps.
Buying at this level and setting stops below the linear trendline makes alot of sense, Conservative buyers should wait for price to rise above 0.009 which was previously support from november to december 2015 and may prove to be resistance in future.
The bottom of this trendline is a tried and tested buy area. Whilst there are some new coins on the block which promise far better features than LTC (ahem Ethereum) Litecoin is still massively popular in China as a purely speculative asset. Whilst its unlikely to surpass all time highs due to other coins eating into its market cap it is highly likely to move up in relation to BTC during a big Bitcoin pump.
Buying at this level and setting stops below the linear trendline makes alot of sense, Conservative buyers should wait for price to rise above 0.009 which was previously support from november to december 2015 and may prove to be resistance in future.
The bottom of this trendline is a tried and tested buy area. Whilst there are some new coins on the block which promise far better features than LTC (ahem Ethereum) Litecoin is still massively popular in China as a purely speculative asset. Whilst its unlikely to surpass all time highs due to other coins eating into its market cap it is highly likely to move up in relation to BTC during a big Bitcoin pump.
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