BTCUSD was forming a triangle that was likely to shoot upwards( and it did).
Case 1. BTC shoots upwards and rallies for a bit : LTCBTC goes down or sideways at best. (It can't compete with the short term rally of the BTCUSD pair)
Case 2. BTC triangle breaks downward. : LTCBTC goes sideways or down. The chances for a LTC rally when big daddy BTC is falling is low.
Strong BTC movements in any direction tend to cause alts to bleed.
Conclusion: Long was a low probability trade. A good stoploss saved me from bagholding