Litecoin (LTC) Very likely to rally 20% further. Xzhi is long.

"Litecoin does look quite good from a long term standpoint, but with Bitcoin hovering near 6000, I would be wary longing. Litecoin may pop off in a black swan event similar to XRP and DOGE, so you may buy the breakout. "

That was my comment from the last Bitcoin idea. Now I am long LTC and up over 4%. I have bought more LTC 9550.

I expect this rally to go 20% percent or higher in a black swan event similar to Doge or Ripple. Once it completes, we may short Litecoin to the ground. However, Bitcoin must be moving up to 6900 for this to happen. I believe it will so I posted this chart.

Buy:
9550
9464 (most likely target)
9365

Stop Loss:
Close below 9290

Take profit:
11000
My take profit will be manual as I can monitor.

Even if Litecoin closes back below, there is still a chance for it to pop off, as long as it holds 8363 and moves back up.

Thanks for viewing! Doge and Ripple popped off. I believe Litecoin will do the same.

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I am long with 50% of my entire account. So far up 6% and I expect to add the remaining 50% once the rally is confirmed.

This is a no brainer long with a very good risk/reward. The worst thing that happens will be a close at break even.

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One of the strongest bull flags I've seen. XRP had a better one that only lasted 30 minutes before the next wave, but LTC is very strong.

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When the price hits the bottom two lines, you can buy, while you can short if it hits the upper lines as during this time price should be near the middle line.

I would not short as another wave up is possible. Just have buy orders and a stop loss.

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9464 has been hit.

In theory we should now be moving up. If that does not happen, make sure you have a stop loss ready.

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I am moving some of my funds elsewhere as there are better trades right now.

Litecoin should find support here and move back up. If not, there should be a higher low formed.

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Here we are.

On the other hand, XRP seems quite bullish relative to other coins. It is not dropping.

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I am still bullish on Litecoin. If we fail here, trend should hold.

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Notice how the cloud turned green and we are now above it after a bullish TK cross. The ichimoku (my favourite indicator) catches 80% of the trend. The trend has a good chance of being up after a month of LTC accumulation.

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Look at BTC price action in LTC/BTC.

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8500 is the next support for LTC. We should hold that.