As good as Litecoin has been in the first half of 2019 it has been just as bad in the second half of 2019. It has literally given back all the gains.
Those traders who trade both 'long' and 'short' will have made money on the move upwards and then also made money by shorting on the move downwards.
It is difficult to anticipate how Litecoin will do over the coming month but I think it is likely to take the lead from its father in Bitcoin.
$200 will be an important and psychological price area.
If this is breached then Bitcoin Cash could easily go down to the $140 price area. This would be a big blow to the bulls and also damage confidence in the asset.
Bears will be enjoying the move downwards and should be profiting from the current trend and price action.
So after a break upward yesterday morning was followed by a pullback for the indices with the usual trade dispute back and forward plus an escalation in the Hong Kong protests with a stand off between students and the police plus the US senate getting involved to stir things up.
Looking at the Dax and Dow charts there was a 9am break upwards followed by a reversal, some might say that was a stop run but they are usually not much more than 20 points or so, some might say it was an exhaustion bar on the Dax but exhaustion bars are on the end of a run up or run down not 8 days into a flag. Inevitably some will say it's the beginning of end of the world (again) but it looks just like your average pullback to me.
Looking at the bottom chart compares 2 different assets with 2 similar looking charts, they should be because one is the Dow index while the other is one of the main Dow constituents, the funny thing is that one of the charts 'the crowd' are perpetually heavy on the short side while in the other they are perpetually heavy on the long side 🤔
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
CFD, share dealing and stocks and shares ISA accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.