Blockman Capital Litecoin review clients 231019

Blockman Capital Litecoin review clients 231019


Welcome to Blockman Capital Analysis.
Today we are looking at Litecoin on behalf of our clients, not a coin that we review frequently.
However, it is in the top 10 by market cap.
We keep referring to this top 10 by market cap because this is the liquid end of the market.
It’s the end of the market where you can buy and sell with a high degree of ease.
So it’s the area of the market that we concentrate on so that we dont risk things like slippage on stop loss positions so that we dont
have a situation where we aren’t able to close out to trade at the price that we’re looking to take.
So liquidity is key in some of these situations.
The analogy that you would look at is whether you’re trading something between, say, the FTSE 100, the likes of Barclays shares or HSBC
shares. If you compare that to the FTSE 250 and then compare that to the AIM market, what you’ll find is the further you go down the market
cap, the size of the companies that you’re looking at, the less liquid those shares are and the more difficult it is to buy and sell.
Exactly the same as digital assets, which is why we concentrate on what we would refer to as the sort of blue chip end which would be the
top 10 by market cap.
So that that’s what we’re looking at here.
So after that little bit of a sort of update on on how the coins look, let’s get back to Litecoin.
As you can see here, we know about the drop.
We’ve talked about it a number of times and we’ve talked about the fact that we are biding our time at the moment.
There is a real key level of support here it’s pretty much across all the digital assets.
And we for that for Litecoin to run about sort of fifty two point five, something like that.
It’s tested it a number of times and recover back up.
That’s pretty encouraging because what it means is it’s it’s holding this line of support is holding what we would have liked to have seen
as a little bit more of a sort of continuance of this nice sort of movement to the upside that we saw in the back of the drop.
Just giving it up again and got back on to the support and again in the early hours of this morning, about 4:30 this morning.
And it did sort of retest and back down on to the support line here.
So if we compare this with a couple of other coins that, again, are in the top 10 by market cap.
So initially, let’s have a quick look at EOS again, not a coin that we look at a lot, but we’ll put that on there and we’ll also look at
Bitcoin cash, again, this is one that we follow on behalf of our clients and what we see.
Again, we’ve mentioned there’s a high degree of correlation when we’re looking at this particular chart.
We’re looking at percentages rather than prices.
So this is why there is a little bit of a variance in them.
But underlying it all that there is this level of support, regardless of which coin we’re looking at.
There is this level of support, which is great.
So still down about 27 to 31 percent from the initial drop and we are continuing to watch this because we do believe that there’s going to
be a decent move coming along again in the near future.
We’re not sure exactly when that is.
And again, we’re biding our time, we’re just keeping the tinder dry, ready to capitalise on it.
When markets moving sideways the same as when you trade in the stock market.
If you just trade unnecessarily, what would be the point you’re waiting for is to see a bit of momentum is a bit of a range here that you
could trade, but because there’s a good likelihood we can recover but there’s also the potential and downside on the back of this sharp
drop. The smart money is to keep the tinder dry as soon as you start seeing the considered momentum, that’s when you get involved.
And that’s exactly what we’ll be doing on behalf of our clients.
Thanks very much.

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