Day 38 of learning about
@LitecoinVM and Litecoin ecosystem.
Today we're taking a look at a high reward/risk trade on
$LTC.
Have mentioned a few times in the past that the
$LTC chart is starting to line up with
$LITVM and the non-stop news driven catalysts we have lined up over the next few months.
Once LitVM enables yield opportunities for the Litecoin holders and community, the Sound Money Web3 meta should kick off in full throttle.
What we're seeing on LTC price right now is that we're seeing a bottoming structure reversal at the bottom of a multi-year channel.
The longer the time frame, the more reliable these patterns and supply/resistances are, and
$LTC is trying to put in a triple tap reversal after a fake breakdown.
This has everything I look for in a chart, and I'm taking my first 'real' 10x leverage trade on Cipher terminal.
The reward to risk is 6:1 here and my TP/SL have already been put in so I know the exact two outcomes that can play out.
Expecting trustless bridging via BitcoinOS tech to be one of the major catalysts fueling this run up, as LTC holders will be able to bridge over to LitVM via zkLTC, and start to participate in DeFi and RWA with their capital.
Good luck if you're taking this trade with me on Cipher.