I think when it comes to trading people underestimate 'gut' instincts and experience monitoring price action the behaviour of any asset you are tracking and following.
As you can see from my previous post I had an expectation that Ripple and Stella would play catch and increase sharply in price and Stellar has delivered. I am still expecting Ripple to do so the same but I am led to believe (I could be wrong) that the reason why these Crypto's do not all move together at exactly the same time is because large Crypto traders move from one Crypto to the other enticing other traders whilst they exit and move on to the next. This 'rinse and repeat' cycle is executed to aid profit maximisation whilst utilising their trading capital and increasing trading capital efficiency.
I think Litecoin is going to follow Bitcoin's lead on this current Crypto rally we are seeing.
Litecoin requires less margin requirements on IG's platform to trade than Bitcoin so I do see some of the 'alt coins' like Litecoin being more attractive to smaller traders to trade.
In fact I think Litecoin is the cheapest in terms of margin requirements to trade on IG out of all the Crypto's.
Bitcoin Cash has hit $386.20 overnight and is now clearly on course to hit that psychological $400 price area. We are seeing a bullish and sharp breakout. The corrections along the way will be just as sharp so stop loss management will be vitally important.
If Bitcoin Cash can break $400 to $500 price area then we could see a longer term trend change in play. For me it will have to break around the $635 to $645 price area for that to be confirmed on the 'daily' but it is heading in that direction for the medium term.
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