A break in the correlation in ETH and BTC as they remain stagnant, LTC is breaking downtrend resistance but will still have lower highs for the bulls to break at $47 as well. Anything under $47 will keep inside bars and tightening ranges on the daily, which we would look for a break in after the candlestick today closes, at 8 PM Est.
This on the 1 hour chart? I think that's too short of a time frame to really justify that move as a new bull trend. You can see on 19:00 the same thing happened. I'd watch and wait, see if there's any significant change in the 4 hour chart at least.
cryptingcow
⋅
But yeah the lower highs is growing, so even if it fails to break through at $47, that actually sets up a nice bull flag pattern.
TheChartGuys
⋅
@cryptingcow, Right, nothing in the post mentions a new bull trend. Still lower highs.
adrian2point0
⋅
Could it be related to BCH price going down?
TheChartGuys
⋅
@adrian2point0, I have not noticed a significant LTC BCH correlation, though certainly have with BTC and BCH