First: don't go long now! That's so risky XD Sure it might go up, but might as well play lottery, better odds better reward.
My favorite buy area would be 70-85$ People are calling 100$ as Litecoin bottom because they're in it and delusional. But you know we're probably going below if all the other cryptocurrencies go to form a lower low.
Litecoin won't be spared because of "how awesome it is".
My favorite reversal area would be 70-85.
We won't go lower than 65$ I can say with 99.9% certitude, because we have ALWAYS (as in not just in 2014) stopped and bounced on big confluence area's.
LTC has been bouncing hard and there is reason to believe the lower it goes the more it can bounce because people see a 5$ difference as small even if it's 10% "whatever 5$ big deal it's a cheap coin".
For myself, apart from BTC, I want to go gamble on ETH it's so oversold and has been forgotten, Both ways I'll make profit, let's see which one makes the more % gains. Also there's a small chance after LTC goes below 100$ there is massive panic selling till 50$ so it's one reason I don't really want to risk it. If it goes to 50$ thought, woohoo doubling up wouldn't be impossible here :D I'll buy some on top of all the rest.
+++ I have no idea what I'm doing +++
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Litecoin looks like the least bullish of the big 3. Expect the most dumping. Not 100% sure of course. Seriously don't expect 100$ to hold. I'll day trade BTC (short and long) and ETH (long only). Litecoin had it's time, now it's ETH time to shiiiine!