Tuesday | 6th November 2018

Previous commentary refer here: http://bit.ly/btcethltc051118

My core strategies refer here: http://bit.ly/taicorestrategies  

WARNING

Do not attempt to use any of the trade ideas contained within unless you have attended my classes and understood the risk and money management behind these ideas.   

Full Disclaimer refer here: http://bit.ly/tai-disclaimer 

A special analyze to reply a question ask from @almutira from my yesterday trading commentary. 

WILL LITECOIN RISE NEXT YEAR?

In the weekly time frame, LTC has retraced deeply since its rise to $364.77 on December 19, 2017. 

At the current price, it is no longer attractive to sell. In fact, the odds have shifted in favour of buying. 

Technically, LTC has fallen to the 95 percentile of its rise from $32.48. 

This means it is better to buy than to sell as the risk of buying is comparatively low from a risk/reward standpoint.   

When we drill down to the daily time frame, we can see that LTC has dipped into a buy zone defined as the area between $32.48 to $51.57. 

The lowest LTC has fallen to lately was $46.91 on September 12. Most recent challenge to test this level was on October 29 with a low at $47.06. 

Subsequently, we have seen attempts to rally. Again, based on risk/reward outlook, buying offers better odds. 

As to the question of whether LTC may rise into 2019, the odds are very good indeed. 

That said, in the near-term, the possibility of another dip below $46.91 cannot be ruled out completely. 

It is possible, based on wave count, that another low is needed to complete the long-term decline from last year’s high of $364.77. 

Regardless, the call for a multi-cycle low in crypto assets especially among the major coins is rather uniform. Next year is technically, an up cycle year for cryptocurrencies.