Hi Veilkrand,thanks for the chart ! Hey, I want to point out that the current price of LTC is $62.34. Do you think it will fall back. I have huge stake in LTC like 500 LTC. LTC has lot of good news.. Do you think it will go again to 50's. Please do share your valuable thoughts.
Thanks,
Patel
veilkrand
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@patelcrypto, It's hard to say. This is one of the readings you can do of the market, drawing an ascending head and shoulders that usually became a bullish trend. However crypto market is extremely volatile and don't follow traditional price patterns easily.
My recommendation is to lower risks at short-term, keep them for long term. LTCUSD is anyway undersold, if it goes to under 55 it will recover fast to 60.
patelcrypto
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@veilkrand, Thanks for your suggestion.. I made mistake by shorting LTC at this price... Could have waited instead of riding on waves..Regards
veilkrand
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@patelcrypto, it's not a mistake. Your job as investor is to make money, not to lose. Losing potential future profit in order to reduce risk and make a profit is totally legit.
Thanks,
Patel