LTCUSD update: After a nice short squeeze, price is slowly drifting lower to where it may even attract a lot of bear talk. We are actually using this retrace as an opportunity to add more to our long term portfolio. Although the 41 area may still be a little high, we are specifically watching what kind of price action develops around the 40 level (psychological and historical support). IF price breaks lower, the 37 and 35 areas both offer high probability support areas as well. As long as this market does not give back the entire break out candle, we are anticipating a broader move higher in the coming weeks. Since we called the aggressive break out around the 34 level, this market has been more of a leader than a follower. Relationships are ever changing in this space, but while it stays intact, we will continue to align our expectations and strategies.
It is clear that the WHALES have spoken: Litecoin will PUMP higher. Just have to be patient. Could take a few weeks. But they'll pump her HARDER & HIGHER!! $$$