LTC has strong correlation to the BTC Price pattern currently.
Whilst LTC has broken previous support on the lower time frames, the larger triangle pattern is a true test for both LTC and BTC.
Long - If we see a price move to the upside, we will see it retesting the previous highs of 374, I anticipate the bulls will take over the market for a quick strong move. I expect this will occur within the new year.
Short - If the price moves lower, expect much of the same price action from the previous days (slower bearish action), and get ready to buy big around the $175 mark. This will continue until around Jan 5 until we see the correction turn around.
Overall thoughts are long, but we may see some more pain in the market yet
Whilst LTC has broken previous support on the lower time frames, the larger triangle pattern is a true test for both LTC and BTC.
Long - If we see a price move to the upside, we will see it retesting the previous highs of 374, I anticipate the bulls will take over the market for a quick strong move. I expect this will occur within the new year.
Short - If the price moves lower, expect much of the same price action from the previous days (slower bearish action), and get ready to buy big around the $175 mark. This will continue until around Jan 5 until we see the correction turn around.
Overall thoughts are long, but we may see some more pain in the market yet
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