Litecoin (LTCBTC) has hit the 0.786 Fib. retracement support and is now trading just above EMA100, sitting on a great spot for a bounce, but there are a few things to take into consideration first... Feel free to hit like now and let's continue with this analysis:
LTCBTC has been showing huge momentum on the drop, so it can still go a bit lower.
If EMA100 doesn't hold (daily candle closes below it), then you can expect for EMA200 to be tested.
If EMA100 holds as support, we can expect Litecoin to bounce and start a new wave up.
Green volume was good yesterday, bulls need to follow up today for a bounce.
@MR.bergan, The trade idea didn't receive enough likes... I will post a new one.
irfanali741
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Thanks for the idea.
What about small cap Alts Like: NPXS, BTT, and DENT that is in it's 2017 ICO Price ATL 99.7% DOWN? Please also look at DENT. Thanks.
AlanSantana
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@irfanali741, Give them 2-3 weeks and they will start some good bullish action.
irfanali741
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@alanmasters, Thanks for the reply on time. God bless you.
All depends on BTC. However, it seems a bit like alts reaching their support levels are a point where bitcoin stops falling too. So, are ALTS not running the show on a drop with BTC running the show on the rise?
AlanSantana
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@matthevandaalen, They might rise when BTC falls.
CryptoTraderXL
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Yesterday's candle has formed a nice hammer. Maybe we will see soon a reversal?