Massive Litecoin & Ethereum Trading Opportunities
Litecoin & Ethereum have exploded in the past 12 – 24 hrs, specially Litecoin. In this video, we’ll examine some possible trade tips and how cautious you should be when investing in these volatile cryptocurrencies.
Litecoin is priced much greater on GDAX than other exchanges. Approximately thirty% of volume is coming from GDAX at the moment, which tends to make me think the price tag from GDAX is a premium which will near over time as has happened in the past. As such, I would not touch Litecoin on GDAX.
Nevertheless, there might be an appealing possibility to get Litecoin at roughly 1.75m Satoshi (.0175 BTC). This is a key lengthy-phrase resistance turned into help now that we have broken over it and are hovering all around it. A acquire restrict all around this degree with a subsequent end roughly twenty – 30% below the market place may possibly be appealing provided cryptocurrencies that explode have a tendency to maintain going up for an undetermined amount of time.
If we see Litecoin fall under this important degree (.0175 BTC) in up coming 24 hrs and remain there, my see will grow to be much more bearish. I probably won’t be participating in this trade, provided I see cryptocurrencies risky sufficient as is, but I am thinking about a little position regardless.
Ethereum, on the otherhand, is nevertheless under its crucial resistance level (.04 BTC) which implies I nevertheless view it as undervalued regardless of its run-up in USD. In addition, it is priced similarly across all exchanges. If we can break up .04 BTC, I would look to start taking income in the .055 – .06 BTC degree, with the next level getting .07 BTC. Anything at all past that I will offer a separate video update for.
As typical, I would adore to hear your thoughts. Thank you for viewing.
If you like my articles, you can support me by way of making use of ANY of the affiliate backlinks under (I obtain small compensation). The attractiveness of affiliate hyperlinks is that I can choose and pick what I like rather than have firms approach me – almost everything I linked below (with the exception of Trezor because I like Ledger), I use myself regularly.
My Advised Hardware Wallets:
If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously – look it up and you are going to uncover plenty of information supporting this declare. There are choices such as paper wallets, but these are practical and my option for cold storage (offline):
Ledger Nano S: http://amzn.to/2hZPj0q
Ledger Blue (expensive): http://amzn.to/2hk7xst
I personally favor the Ledger Nano S, but the Trezor is such a near second that it truly isn’t going to matter which a single you go with. Ledger Blue is premium and practical, but not required.
My Favored Book for Investing in Crypto:
This guide is, bar none, my preferred book for investing in cryptocurrencies. It does not bog you down with technical jargon, but instead focuses on all the factors you ought to understand ahead of you invest.
It truly is a extensive guide for both beginners and professionals. Novices will discover data about significant cryptocurrencies (not just Bitcoin) as nicely as specifics on historical industry occasions (that you can draw on for long term) and occasions to view for moving into the future. Experts will discover the chapters on valuation specifically useful. For those of you concerned in standard investing, this guide is even far more of a godsend as finance data is explored (correlations with other asset classes, ETFs, and so forth).
My Recommended Exchanges: Coinbase / GDAX / Bittrex
If you sign up to Coinbase utilizing link over, you and I will both get $10 every single after you buy your 1st $100 of Bitcoin utilizing Coinbase. Coinbase is much much less intimidating for beginners. As soon as ready, move up to GDAX for less costly or zero charges. For altcoins, I recommend Bittrex.
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None of what I provide in my videos is investment suggestions. Please do your very own due diligence.
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