There are plenty of buyers for LTC and many more will pop in if the price drops below $50. The price could, however, hover in the $50-$80 area during a possible ABCDE corrective pattern. A key resistance might develop at $110 which served as support a number of times during the dive. The TPs for longs will, therefore, be $75 and $108. The entry is the $40-$55 area with StopLoss below $38. For any of those who would rather play safely, I suggest monitoring the market until the price exited the downtrend and is part of a consolidation or uptrend.
Winning trades for everyone! Cheers!
NOTE: The angles are correctly built, but whenever I tried to publish the idea the lines of the angles would move from their initial place. I hope that does not cause inconvenience. Thank you.