$LTC >> Tomorrow halving event. Bullish or bearish?
Hi everyone,
Welcome to an update on Litecoin.
Litecoin looks bullish to me, even after having corrected 47% from the June 2019 highs.
My main argument in this idea is that Litecoin will continue to be bullish after the halving event (tomorrow) because everyone is looked at history and thinking that Litecoin usually crashes after the event, "buy the rumor, sell the news" type thing. I don't think this will be the case this year.
As a contrarian, I believe the market makers will do just the opposite of that. Litecoin will probably continue to surge and break its recent highs this month, especially if Bitcoin continues its trajectory to $13k. What's also very interesting is that people are not talking about it; Litecoin tweets and posts on social media have significantly reduced since June. That's another contrarian market sentiment indicator, leading me to believe that LTC is preparing for a rip to the upside.
Technically, in the short term, $LTC is in a bullish ascending triangle with a healthy upward trending RSI and MACD... It's also maintaining the 2019 trend line support!
Hope you enjoyed - if you find this valuable, please leave a like as this helps to develop our channel and audience.
Cheers,
Leb Crypto
Welcome to an update on Litecoin.
Litecoin looks bullish to me, even after having corrected 47% from the June 2019 highs.
My main argument in this idea is that Litecoin will continue to be bullish after the halving event (tomorrow) because everyone is looked at history and thinking that Litecoin usually crashes after the event, "buy the rumor, sell the news" type thing. I don't think this will be the case this year.
As a contrarian, I believe the market makers will do just the opposite of that. Litecoin will probably continue to surge and break its recent highs this month, especially if Bitcoin continues its trajectory to $13k. What's also very interesting is that people are not talking about it; Litecoin tweets and posts on social media have significantly reduced since June. That's another contrarian market sentiment indicator, leading me to believe that LTC is preparing for a rip to the upside.
Technically, in the short term, $LTC is in a bullish ascending triangle with a healthy upward trending RSI and MACD... It's also maintaining the 2019 trend line support!
Hope you enjoyed - if you find this valuable, please leave a like as this helps to develop our channel and audience.
Cheers,
Leb Crypto