A chart of the ratio of LTC/BTC in log scale and a shows a clear overall uptrend. But notice the possible megaphone and what appears to be the ratio being rejected at the second channel top. If the ratio reverses I believe it implies risk off in crypto with BTC outperforming but in an overall asset class downtrend much like gold and silver .
The tricky thing in crypto is that people may rotate from LTC directly to BTC which creates a small "pump" in BTC prices while keeping LTC contained.
This could create a trap for folks so please be cautious.