Another market analysis for BTC and Litecoin. Normally I am very organised but it seems like this time around I have been delaying the process of getting these analyses out on time. Maybe I need to start holding myself accountable 🤔
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Litecoin – Consolidation for the greater good
Let’s get right to the chase. This consolidation period is where you should be buying Litecoin in huge bulks. Take a step back and think about how the institutional traders are buying into Litecoin. They are not looking to pump the price, which means they have to buy in areas of consolidation.
Litecoin has been consolidating for the last week, and there is no sign of downward pressure which is going to rock the boat. You also need to remember that Litecoin is a significant stable cryptocurrency for transfers.
Conclusions: Do not worry about the entry price for a longer term hold on Litecoin. Price is currently around $140, and while we are under $150, this is a great time to buy more Litecoin. $137 or below is my current value area for Litecoin, and as we have seen no action over the weekend, I would assume that we have another moon launch coming.
BTC – Testing $10000 or To the Moon?
It would seem with have struck bitcoin gold this weekend as there has been a lot of buying pressure through $10000. My initial thought was that we would be looking to react hard on the $10k as a reversal, but this did not happen. Due to the weekend buyer pressure we have had over the last 2-3 weekend, it would seem the market overreacts on the weekend, meaning we should see a pullback to 10K.
What is now becoming more apparent is that we are in a reliable bull market and if you are going to buy any cryptocurrency, wait for a substantial pullback to the support
Conclusion: There are no strong resistance points between $10-12K. If you can, I would start buying BTC below $10400. Due to the increase in volatility, I placed a larger value area on the. If there is another opportunity to buy at or below 10K….it could be your lucky day.
“Patience is the key to any market” – Nathaniel.
Thank you for your love and support.
Nathaniel – “The value Trader”
Little Big Movement / IONIC Capital