Litecoin (LTC) Update: Sitting on Support w/ Strong Volume
SUMMARY
LITECOIN (LTC) is sitting on the horizontal white support line (former resistance) which was breached with a surge of impressive volume. I hold to my target of $79.76; BUT once profitable, protect your profits!
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
I love Litecoin. I've been holding long term and will continue to hold. It will be triple digits USD one day in the future. Good luck
What time frame do you predict your target to be accomplished in?
19th or so...
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By "protect your profits" you mean something like setting stops as it goes up? Excuse my ignorance here.
Even though I'm not the author, I'll give my answer so take it for what you think it's worth.
I would imagine that what you stated is the correct answer.
People tend to get greedy and just think the rise won't stop and forget to take profits off the table. They go to bed one night and wake up the next morning and lose 90% of what they could have taken off the table.
If you set up stop loses as you suggested you mitigate your losses.
A lot of different TA people I've watched use the fibonacci retracement tool to kind of pick percentages they believe in and take out profits along the way as the coins increase in value.
Yes sir.
Oooohhhh.... trailing stop! I am a slow learner... but I learn eventually
Crypto is crazy right now. Its like BTC and another coin getting pumped at a time with it. It was OMG first went up like 20% and today its litecoin. Its sort of weird how coins are scaling right now.
Yes, I've seen that happen for a long time. Not sure the exact mechanism.
This is just too easy....anyone who is a doubter.....simple trades, follow instruction...make money! I was out of the market, saw this post, looked at my own indicators to confirm for myself....Bought in, and now am in the green by over $5 per coin. @haejin - keep it coming!
I bought some Litecoins and was upset because it was going down. Because of this downtrend I was hoping to get profitable in a month or so. Then, yesterday I got some hints by email and the next thing was Bitfinex notification that all my offers were sold out. Like that. It was unexpected for me.
My offers were below this white line @ 56.7.