A Double Bottoms Kick-starting Litecoin Recovery


In addition to the ETH which increased by 13 percent, Litecoin remains the last 24 hours with the best return with 12 percent. The result is that the morning model and the bears' rejection in August 2018 is about $ 45- $ 50. Going forward, we suggest that the small size of Litecoin buy the risk from traders with the first targets at $ 70. Subsequently, conservative traders can accumulate long to those who have to close the buyers over

From the news

Apart from the sliding of the capitalization of Litecoin, there are many developments that support Crypto – in the long run since the effect does not it is to be conditioned to be immediate The spearhead of this is Bittrex, the Seattle cryptocurrency exchange and the 23rd rd most liquid exchange in the world. In recent days, they have made headlines for all the right reasons.

Through a tweet, the company said that they will support LTC / USD and TRX / USD pairs starting on September 17 and only the eligible accounts created before September 4th are free to trade. As a consequence, this should stimulate operators more of the market and the respective communities because it is a US stock exchange, as there are options for LTC to benefit from the extra liquidity as new investors flow from several states where Bittrex allows for legal trading. Remember, in their previous announcement during the launch of the ADA / USD and ZCash trading pairs, their priority was to improve the quality of service and create additional channels for crypto investments.

In addition to news, developers of Litecoin is eager to expand and diversify the number of safe / convenient portfolios. One of these ideas is the creation of a Web portfolio that is not only easy to use but safe enough to protect user memory. It's audacious, but if developers can break through, mass adoption could increase, as traders and merchants would have a reliable Web wallet with the support of Litecoin's developers.

Litecoin (LTC) Technical Analysis

Weekly Chart

  Litecoin (LTC) Technical Analysis

Litecoin weekly chart for trading view

As the week ends, Litecoin's prices are stabilizing and will probably resume in the future. Note that on a weekly basis, LTC is stable and up 1%. The end result is a clear rejection of bearish attempts that push prices above $ 50.

What we have in the weekly chart is a pin bar with a longer and higher wick hint at lower time intervals. Although this is reporting prices towards consolidation, we suggest abandoning LTC sales negotiations. As a result, risk traders should adopt a neutral position. The only time they would be activated is once there is a final LTC rupture and a closing above $ 70, our immediate resistance line

Daily Chart

  Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View [19659012] Building on yesterday's high-volume pin bar is a bullish candelabra that capsizes from $ 50, a support line. What is significant in this is not the commercial range but the level of participation. This is a continuation of the bullish attempts of 12 September. The result is a bullish inversion scheme of three bars, the Morning Star.

If nothing else, aggressive traders can buy LTCs with retreats in shorter times with stops at the lows of September 12th at $ 45 and early at $ 70.

Disclaimer: Opinions and the opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.

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