Litecoin is a popular cryptocurrency that has been in a steady uptrend for some time. Charlie Lee, the creator of Litecoin, is now working on Litecoin full time, and looking to hire additional programmers. He recently participated in a large scale meeting in China to discuss upgrading Litecoin, getting it on all exchanges, and other ways of marketing it (which may have been somewhat overlooked by Western investors). Segwit was implemented successfully on LTC -0.18% -0.18% . Smart contracts, and the lightning network are coming to LTC -0.18% -0.18% . One day atomic swaps will be possible to trade BTC and LTC -0.18% -0.18% against eachother without the exchange--a day traders dream, 0 trading fees going to a middle man exchange. For all these reasons, I am bullish on Litecoin and will continue to acquire.
On this chart I drew a simple pitchfork and have the Ichimoku cloud indicator on. Pitchfork appears to be holding for now. Idea for entry would be at the green "IN" sign, which is the Kijun of the daily Ichimoku cloud . Kijun usually provides a good entry.
Expecting the weekend sell off to continue for 1-2 more days and will be looking for the $41 USD entry (Coinbase) to step into litecoin. $40.50 Kraken. Will begin to put small buys in at 43 and below (Coinbase), and might put some very large buys in we happen to go under $40 USD (Coinbase). Most optimal and realistic entry seems to be $41. Will not be using a stop loss for this trade, buying to hold or sell at a more profitable level.
