LTC/USDT Prep | S6W1 | Team Trading Contest Post for Crypto-Empires

I am glad to join Crypto-Empires Team and I will try my level to best to add value to the team and we will win the Contest.

1.) Name and introduction of the project token.

Litecoin is one of the Top and Old Crypto projects having a great fundamental. The major use case of Litecoin is in Digital payments backed with the power of Blockchain Technology. There are so many big names and institutional investors are working on this amazing project. They have almost 1 Million followers on Twitter and a super active team that is continuously giving updates about the project.

If I talk about the Ranking on CoinMarketCap then it is ranked #20 also it is listed on all the major exchanges like Binance, FTX, Bybit, Kucoin, Huobi Global etc. We can Trade LTC in Spot, Margin, Futures with different Pairs. Litecoin is a Large Cap coin and one of my favorite coins for futures trading.

2.) Why are you optimistic about this Token today, and how long do you think it can rise?

To be honest, I am a purely technical analysis guy who used to Trade based on Price action and Market structure. litecoin is backed by institutions and a very good team however in the last bull cycle it didn't perform as per the expectations. Litecoin made its All-time High $413 in Jan 2018 and in the last bull cycle it pumped up to 300 usdt. We have seen in the last Bull run most of the coins made a new all-time high or at least reached their previous all-time high however LTC wasn't able to make a new high even after having very good fundamentals. I believe this project is going to give a massive gain in the future and can be considered as a safe investment option.

3.) Technical Analysis

I would like to do the Multi timeframe analysis.

LTC/USDT, 1D On the daily timeframe we can clearly see LTC is Sitting at the very crucial Demand zone which is a great buying opportunity. Apart from this, it is also making a Double Bottom Pattern which is a Bullish Trend Reversal Pattern.

LTC/USDT, 1 hr- On the hourly timeframe, there is breakout of 0.23 Fib Level.. Fibonacci is one of my favorite tools which I mostly use in my price action trading. We can clearly see it broke 0.23 Level the retested the level then going up.

LTC/USDT, 15 Min- On the 15 min we can see fib level breakout and I entered it on the basis of Multi timeframe analysis.

Entry Price: $104.64
Stoploss: $102
Target: $107.40

4.) Your plan to hold it for a long time or when to sell?

I have taken a Scalp Trade in Futures so initially, I am targeting a 1:1 Risk reward for 50% of the quantity then I will try to catch a 1:2 Risk reward with Stoploss at entry so that I can save my capital in case of reversal. This is the best way to catch a big move and get a good RR. I have booked my profit of 50% as you can see in the above ScreenShot and the rest holding with Stoploss at entry.

5.) Do you recommend everyone to buy and the reasons for recommending/not recommending

Yes, I am happy to recommend this project to everyone in the Spot holding. Futures trades are always risky and I like to do scalping. Litecoin is the coin that you can hold in your long-term bag and I am pretty sure this is going to give a massive gain and will outperform in the next bull cycle. It is one of the strongest fundamental projects which has a great vision to digitalize Digital payment with the power of Blockchain.

6.) Anything else you want to share about the token/project.

The current price of LTC is 105 which is closed to the Pyscological level and if BTC will be stable then LTC is going to show a very quick recovery and if this is the bottom for the BTC then it will surely gonna be big. We can also expect a new All-time High which is 4x the current price. The team is super active on Twitter and posts updates about the project and this project is backed by Institutional Investors and some of the big players in the Industry.

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cc-@reddileep @abdu.navi03