LTC broke down from it's 0.618 fib, and has now found support on 0.768. Its oscillation with BTC has graphed a wyckoff distribution cycle, which currently will be turning to throwback for a retest of 0.01 BTC.
Several market signals point to a local bottom having been reached. CMF is showing bullish divergence on the daily for LTCBTC, and BTC has reached its channel top and is showing bearish divergence.
Long Target: 0.01 BTC Long SL: 0.007 BTC
Short Target: 0.005 BTC
This is my personal analysis and should be taken as such. I'll update this Idea as the trade goes forward. Hope you enjoyed and Happy trading!