Best time to buy LTC

Question

Right now it seems that it is rocketing, so what would be a good price to buy in at when it dips?

Answer
The current price is very volatile at the moment. you can put a small amount of your investment at any price if you wish to. It will be close to impossible to give you a useful prediction for the next few weeks. However, for the long term 1 to 10 years, most investors would say that these assets are a good stake. Look at the price graph in 2017 and imagine if you had bought at around the very high prices, only to see it going down for 2 years. Can you afford that now? If you can’t then refrain from investing any money.

Your thoughts?

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Agreed, if you can’t afford to sweat the lean times then dont. If you can then now’s the time to buy. There’s a strong likelihood that you’re not easily going to find a better time/price to get in
Still very much ground level unless the SEC and the FED decide to declare war on all crypto.

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… was last week … or 2019 … .or 2015 … :stuck_out_tongue: … stop FoMo go HODL —

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Anytime really I would just set up a reoccurring monthly payment with what you can afford and forget about it. Day trading is mostly luck and I’ve made the most money just by having a steady buy monthly and not really selling other than occasionally getting my initial investment back after the price quadruples or something.

Litecoin is one of the only coins to not be at its all time high again which was $400+ and I think it’s only a matter of time before it hits that so I really don’t think there’s a bad time to buy. Especially right before all the MWEB hype.

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More important than the price is the trend itself. LTC is still consolidating the up trend and have been doing so since September 2020.

Right now, LTC will face two resistances to climb, ~245 (previous high) and ~375 (ath).

If you are willing to buy now, you should be aware that even if the price reaches as low as ~165, ~153 or ~112, the trend is still going up. So, don’t panic sell because this means you are loosing $.

A good strategy is to wait for the price to climb the previous high before you go in. So when it passes 245, the resistance line will become the support line. Wait for the consolidation on the area (~250) and than calculate your strategy.

For example:

Price is about 250.

Your stop-loss will be bellow 244.90 and your target 360 (around ATH 375 where the bears will short sell).

Remember, it will take time for this to happen.

I have made an explanation for you here: Describing Litecoin Trends for BITFINEX:LTCUSD by MakeVideos — TradingView

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Either buy every week or every month = dollar cost averaging.

or

Buy the dips at 100d MA, 200d MA.

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