HUOBI:LTCCNY   Litecoin / Chinese Yuan
First reliable breakout signal off the downtrend after the long 7 months bear market for Litecoin. (Correction from 48 USD -> 3.3 USD. 14x decrease in price)
We also have a double bottom made on 22.10 CNY             (3.3 USD).

This is an extremely good risk/reward place to be taking position on Litecoin with stops at 21.69 CNY             .
Dangerous to say the least, with BTC finally being ripe for a drop.

Entered 24.30, sold 25.65 -- I think this bump was primarily caused by LTCBTC hitting 0.0096 again, and supported by the weak prior performance of LTC during this correction. You often see LTC catching up at last waves.
+2 Reply
LastBattle PRO HerSerenity
snapshot


You are right, it seems that LTC is still correlated to BTC, the huge bull flag made was broken upon BTC going down.
I got stopped a minute ago, let's see if there are any other safe entry again.
Reply
HerSerenity LastBattle
One last chance though, it could resolve to this LTC impulse pattern I've seen hundreds of time on different time frames already:

snapshot
+2 Reply
http://imgur.com/ujaPrPq,wHAmEz2

Bitcoin wisdom chart, since TV is missing most of the key data on LTCCNY and LTCUSD
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