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Litecoin Scam Pumps & Dumps off Fake News

litecoin walmart fake news

Walmart x Litecoin partnership is fake, creates crazy price action; Bitcoin and Ethereum Technical Analysis, Market Trends and Scenarios

Technical Tuesdays

  • Litecoin Scam Pumps & Dumps off Fake News!
  • Bitcoin/USD – Number Go Up or Down?
  • Ethereum/USD – Will Bitcoin Let Ethereum Be Great?

Litecoin Scam Pumps & Dumps off Fake News!

that's fake news

On Monday September 13th, 2021, a rumor that Walmart was partnering with Litecoin spread like wildfire across social media. In the tweet from the @Litecoin page with about 763k followers (which seemed to be legit at first glance) was an article with a headline that read “Walmart Announces Major Partnership With Litecoin (LTC)”.

Related: Beware of Crypto Scammers and Influencer Impersonators

walmart announces major partnership with litecoin

This post had twitter ecstatic and everyone had the feeling of FOMO. This news caused Litecoin to skyrocket 24.5% and reach a high of $237 which then retraced the entire move about 15 minutes later when it was confirmed that the post was fake!


litecoin walmart twitter


walmart litecoin twitter

Tweet from CNBC confirming the news was false

walmart tells cnbc a press release on globalnewswire announcing an apparent crypto payments deal is fake

Bitcoin/USD – Number Go Up or Down?

BTC Daily Chart

bitcoin daily chart

BTC Weekly Chart

bitcoin weekly chart

In last week’s newsletter we pointed out that the $50k support level needed to hold in order for us to tackle the $58k resistance next. $50k did not hold and we ended up retesting the level below that we suspected to be support. ($42k – $45k) Bitcoin had a low of $42,830, bounced from that area, and is currently at $46k right now. If Bitcoin is going to test the $58k level it needs to maintain that $42k – $45k level on a weekly closing basis.

Bitcoin Bull Scenario

Bitcoin stays above the $42k-$45K area or retests the level without breaking through it, and then goes for the 58K resistance next.

Bitcoin Bear Scenario

A weekly close below the $45k down to the $42k levels and I will look for $40k – $38k to hold price up. In order for bears not to regain control bulls need to maintain this level.

Ethereum/USD – Will Bitcoin Let Ethereum Be Great?

ETH Daily Chart

Ethereum Daily Chart

ETH Weekly Chart

Ethereum Weekly Chart

Last week we also mentioned Ethereum repeatedly knocking on the door of its last resistance before new all-time highs ($4k). To be exact the level of resistance for $ETH/USD was $3984, but $BTC would just not allow $ETH to be great. Ethereum and altcoins tend to perform the best when bitcoin is strong and going up or strong/consolidating and going sideways. For now, we will have to watch Bitcoin and play by its rules.

Ethereum Bull Scenario

For bulls to remain in the driver’s seat, price needs to stay over $3.2K and hold that area on a weekly closing basis.

Ethereum Bear Scenario

A weekly close below the $3.2k level would lead me to believe that $ETH goes back to the 2.9k – 2.7k area and that would mean more blood for all of our favorite altcoins.

Related: El Salvador now holds 550 bitcoin


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