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seventhwhiskey

LTC Ranging Out of Down Channel, BTC a Better Trade.

Litecoin (BITFINEX:LTCUSD)  
seventhwhiskey Updated   
BITFINEX:LTCUSD   Litecoin
Trend Analysis Trend Lines Pitchforks LTC BTC
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trendanalysis trendline pitchfork ltc btc
LTC-USD broke above channel today, then BTC dragged it back into channel and below short term uptrend line. If LTC keeps ranging for another 24 hours it will break this down channel. Moves are following BTC, but lack the uptrend so BTC is the better swing right now.
Comment:
LTC failed to break out of down channel and crossed below both lower uptrend lines. Those may form a resistance now. BTC is still the monster in this market, but everyone still seems skiddish. A BTC rally could prevent LTC dropping more. Further correction in BTC and we could easily see LTC back at 185 or lower which is buy territory for me. I'd be happier with a drop further to 150 for the deal.

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seventhwhiskey
Crypto still in downtrend.
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