Big Litecoin & Ethereum Trading Opportunities

51w
10:21
Description

Litecoin & Ethereum have exploded in the past 12 - 24 hours, especially Litecoin. In this video, we'll discuss some possible trade ideas and how cautious you should be when investing in these volatile cryptocurrencies. Litecoin is priced much higher on GDAX than other exchanges. Roughly 30% of volume is coming from GDAX at the moment, which makes me believe the price from GDAX is a premium which will close over time as has happened in the past. As such, I would not touch Litecoin on GDAX. However, there might be an attractive opportunity to buy Litecoin at roughly 1.75m Satoshi (0.0175 BTC). This is a key long-term resistance turned into support now that we have broken above it and are hovering around it. A buy limit around this level with a subsequent stop roughly 20 - 30% below the market might be attractive given cryptocurrencies that explode tend to keep going up for an undetermined amount of time. If we see Litecoin fall below this key level (0.0175 BTC) in next 24 hours and remain there, my view will become more bearish. I likely won't be participating in this trade, given I view cryptocurrencies risky enough as is, but I am considering a small position regardless. Ethereum, on the otherhand, is still below its key resistance level (0.04 BTC) which means I still view it as undervalued despite its run-up in USD. Furthermore, it is priced similarly across all exchanges. If we can break up 0.04 BTC, I would look to start taking profits in the 0.055 - 0.06 BTC level, with the next level being 0.07 BTC. Anything beyond that I will provide a separate video update for. As usual, I would love to hear your thoughts. Thank you for watching. ================ If you like my content, you can support me through using ANY of the affiliate links below (I receive small compensation). The beauty of affiliate links is that I can pick and choose what I like rather than have companies approach me - everything I linked below (with the exception of Trezor since I like Ledger), I use myself frequently. ================ My Recommended Hardware Wallets: If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously - look it up and you'll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline): Ledger Nano S: http://amzn.to/2hZPj0q Trezor: http://amzn.to/2AxD9TN Ledger Blue (expensive): http://amzn.to/2hk7xst I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn't matter which one you go with. Ledger Blue is premium and convenient, but not necessary. ================ My Favorite Book for Investing in Crypto: Cryptoassets: http://amzn.to/2zKDdCF This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn't bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest. It's a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc). ================ My Recommended Exchanges: Coinbase / GDAX / Bittrex https://www.coinbase.com/join/5a08b12e305a1401d79d10e0 If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex. ================ Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. None of what I provide in my videos is investment advice. Please do your own due diligence. ================ My Platforms: Twitter: https://twitter.com/Truth_Investor SteemIt: https://steemit.com/@cryptovestor Medium: https://medium.com/@Truth_Investor Seeking Alpha: https://seekingalpha.com/author/truth-investor/articles