Good morning traders! Time to throw out the weekend trash and slowly start acclimating to the real world again.
Never get tired of talking about Litecoin. Charlie Lee, the founder of Litecoin, predicts that 2018, is the year of "the flappening". What does "the flappening" refer to? Well, it refers to the point, where Litecoin market capitalization surpasses Bitcoin Cash, essentially meaning the Litecoin will become one of the biggest Religions out there.
Charlie speaks his mind on Twitter
Litepay - the service, that enables merchants to accept Litecoin for their goods and get paid in their own currency - has already launched and probably needs some time, to go mainstream. The talk that Microsoft is ready to integrate Litecoin alongside Bitcoin and Ethereum within it's upcoming services helps also to fuel the whispers that Litecoin will hit $1000 per LTC already in the next few months. While i am a little sceptic on that, i am a firm believer in Litecoin, and to be honest, many of my cryptocurrrency transactions feature LTC, not the leader BTC.
Anyway, now we have away to monitor Litecoins potential upcoming dominance over Bitcoin Cash. While i have nothing against BCH, i have never owned, nor traded any of that - it just doesn't click with me.
So, back to the flappening - as i said, we have a way to watch the dominance of LTC growing - and the tool is comfortably set up for us at http://flappening.watch/
According to the data, we have ways to grow, but looking to gain ground fast, as Litepay grows. Are you a merchant and accepting Litecoin? Grab the LED-sign from holdempire.com to announce that to your customers and promote cryptocurrencies at the same time.
Want more reasons to love Litecoin? uphold.com reminds us the basic advantages over the competition. Among the other things, like merchant appeal, "Clear leadership" is the one that stands out.
According to them, Charlie Lee has been the face and voice of Litecoin and has clear visions regarding LTC, the complementary cryptocuyrrency to Bitcoin.
Via uphold.com
What about the tech picture? I know many of you newer traders dismiss technical analysis, but i will tell you right now - technical analysis is a way to limit risk. Key areas to enter and exit trades, limit loss and look for good opportunities. And there are some patterns that are superior to others.
After breaking the bullish downward sloping wedge and ripping far out of it, we haven't even pulled back to retest it, probably to the sheer amount of space between the wedge and current price. ATM the price action reminds a bullflag, with shallow pullbacks. Fundamental picture looks like supporting this formation too, with first target around 279 (the previous tops) and second a little above 300 - the recent spike high.
I like the outlook for Litecoin and if i have given you some reson to like it too, please do your own research about it too. We can get ideas from social media, but the final decision to get into a trade should be based upon your research only.
Keep your heads cool out there!
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