vox-populi
Long

Rough Week? Lighten up, with LITECOIN! Part III - (LTC)

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Ah, timing. The hardest part of TA! Looks like, as I was looking for in our previous analysis here, we got a nice strong V bottom off the three-drive pattern I had pointed out.
Took longer than expected, and I think that was because I was drawing the retracement a bit late. I should've counted a bit more price action and we'd have had a perfect chart! But enough hindsight, let's take a look at what we got here.

LTC Reacted nicely to the 71% retracement, just as it entered the .236 time zone. I charted a small set of fib based channels to keep an eye on this retracement, and it looks like we should be about to break upwards, giving us a target at the 127% extension of $102.

Lately, I have really enjoyed trading litecoin. Things have been clear, concise, and risk management has been easy. This is a real treat if you know what you're doing. Also, it reacts strongly to signs of bullishness in Bitcoin , sometimes even leading the market.

Now, Litecoin again seems bullish , all factors considered. I hope that Litecoin is a better indicator of the market condition than ETH - and if pressed, I would say that it is.

Good luck, Traders!

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