Litecoin:LTCUSD Be careful if still long now:correction not over
LITECOIN: LTCUSD Negative now due to Bicoin weakness
Things have taken a turn back into into negative territory for
Bitcoin and Litecoin has suffered as a result. What was fine
yesterday is now very vulnerable because of Bitcoin.
Bitcoin itself is very negative and should fall another 1000
points from here. But it's making a feeble counter rally right
now and Litecoin is moving on Bitcoin's back. Be very careful
now if long here. It's broken the medium term support - now
acting as resistance, a very negative sign and is
likely to come off again soon now. Under the line it's facing
real bear terrritory and will likely be forced back down to 50
once 75 gives way. Time to be flat right now or short with a
stop above 81 for small loss if wrong in near term
Things have taken a turn back into into negative territory for
Bitcoin and Litecoin has suffered as a result. What was fine
yesterday is now very vulnerable because of Bitcoin.
Bitcoin itself is very negative and should fall another 1000
points from here. But it's making a feeble counter rally right
now and Litecoin is moving on Bitcoin's back. Be very careful
now if long here. It's broken the medium term support - now
acting as resistance, a very negative sign and is
likely to come off again soon now. Under the line it's facing
real bear terrritory and will likely be forced back down to 50
once 75 gives way. Time to be flat right now or short with a
stop above 81 for small loss if wrong in near term
Litecoin is stuck under a clear downtrend now from the highs.
It's useful for day traers now. Sell off the dynamic... To
escape the pressure it has to break above the dynamic from
the highs. That would send the bears scattering and flip
Litecoin from negative to positive again. A buy on a successful
retest of the dynamic only once it is broken through to the
upside. Until then Litecoin , although rallying right now, is
still vulnerable.