Investing Journal
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LTCN
As can be seen above (LTCN weekly timeframe chart), it appears to still make sense to make a long-term dollar cost average investment into Grayscale’s Litcoin Trust in order to get exposure to BTC up and coming halving event next year 18 April 2023.
The daily timeframe reveals that the price of the fund has increased recently, now approaching a key area of resistance.
This makes perfect sense in light of the fact that the price movement of Altcoins are dictated by the price of Bitcoin. And BTC has been experiencing a price rally recently.
Therefore, depending on what Bitcoin does next that should determine what LTCN will do. In other words, the price of Litcoin will break through the approaching resistance level (pay attention to the lagging span) if BTC continues to rally, or pull-back if Bitcoin does likewise.
Next Action
- Dollar cost average in to LTCN on Monday regardless and in accordance to the weekly timeframe.
- Keep assessing the price of LTCN in light of Bitcoin’s price movements.
IVG (Involgize)