Days like today are where it pays off to have a neutral stance and have powder dry. If coins like LTC find support, this would add to the belief that now is the time to buy the dip. If LTC doesn't hold, the sidelines may be the best place to be.
A real breakout in Litecoin (LTC) above 63 could get the crypto market going. If speculative fever returns, LTC could go to 80. We don't want to get ahead of ourselves, but we think you should root for an LTC breakout.
Charts are forcing us into a negative stance on Litecoin (LTC). We are seriously afraid of mirror image repeat of what happened earlier this year. If that is the case, traders may need to use short LTC and BCH positions to hedge long term holdings.
On August 1st the 10-year US Bond interest rate was 1.9% the day before it was 2.08%. Now the 1-month T-Note is giving you a return of 2.11% while the 10 year gives you 1.9%. 20-year is only at 2.21%, that is 0.10% spread with the 1-month!
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