Bitcoin Market Summary – 12th July

Wow …. well those were fireworks in the LTC market this week – classic pump n dump

So how does that change our view … well, actually, it hasn’t. Both the BTC market (currently 311.34) and LTC (currently 5.281) are showing positive primary and secondary trends (yes even LTC).

We need LTC so stay down here for a week from the high to establish the first secondary bearish signal (and thats only the start of a setup that also needs to be confirmed by BTC) so no need to brush off your bear skins just yet.

Were currently long the BTC/LTC markets and nothing has happened this week to shake that position. LTC is in a primary and secondary upswing. BTC, this followed LTC and broke above the previous primary high this week so also has both primary and secondary trends pointing upwards.

So how are our trades looking?

Market Position Avg Price Mkt Price Cur P/L
BTC/USD 3.02713 247.76 311.34 USD $192.47
LTC/USD 88.37045 2.8290 5.281 USD $216.68
TOTAL USD $409.15

Good Luck.

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