There is no surprise at the moment that cryptocurrencies are not doing very well this week.
Check out my BTC analysis if you have not seen it already.
Now! LTC has struggled this week to push back above the weekly VWAP (Dark Blue line) which is a little concerning to me. With price consolidated around the previous monthly VWAP level (Yellow Line), which is also the current 30 - day VWMA and the fact that these levels sit on $100 I would be placing my hands in my pockets for now. There is no reason to buy litecoin at this price, and if we drop below $100, there will be a steep drop towards $90.
WARNING: With the weekly VWAP in a downtrend this week should be off limits to buy litecoin until we see a close above the monthly VWAP and price sustains a level above the weekly VWAP. On the opposite spectrum, a close below $100 would be the right place to load up on more litecoin for a long term hold. LTC will not end this year below $100 especially with the litecoin halving in two months. Use the value area on the chart as a guide but be careful as the price could be heading towards the three months low, which is the the 90 -day VWMA (purple line).
Check out my blog below and remember to like this post :-)
LITTLE BIG MOVEMENT LATEST BLOG POST
"Patience is the key to any market" - Nathaniel.
Next update will be on the 1st June 2019 - Thank you for your love and support.
Regards
Nathaniel - "The value Trader"
Little Big Movement
Check out my BTC analysis if you have not seen it already.
Now! LTC has struggled this week to push back above the weekly VWAP (Dark Blue line) which is a little concerning to me. With price consolidated around the previous monthly VWAP level (Yellow Line), which is also the current 30 - day VWMA and the fact that these levels sit on $100 I would be placing my hands in my pockets for now. There is no reason to buy litecoin at this price, and if we drop below $100, there will be a steep drop towards $90.
WARNING: With the weekly VWAP in a downtrend this week should be off limits to buy litecoin until we see a close above the monthly VWAP and price sustains a level above the weekly VWAP. On the opposite spectrum, a close below $100 would be the right place to load up on more litecoin for a long term hold. LTC will not end this year below $100 especially with the litecoin halving in two months. Use the value area on the chart as a guide but be careful as the price could be heading towards the three months low, which is the the 90 -day VWMA (purple line).
Check out my blog below and remember to like this post :-)
LITTLE BIG MOVEMENT LATEST BLOG POST
"Patience is the key to any market" - Nathaniel.
Next update will be on the 1st June 2019 - Thank you for your love and support.
Regards
Nathaniel - "The value Trader"
Little Big Movement
