Lets jump straight in...LTC is in the habit of pinning bears by choosing the momentum manoeuvre via a breakout. Bulls have done very well in this way so far, the logic which seems to justify the selling absorption is based on two premises:
=> Firstly the auxiliary flows via risk which have been brought over to Crypto via US-Iran. Buyers as usual are rewarded favourable for unpleasantness of the shaken geopolitical arena and lack of confidence in establishment.
=> The technical underpinning needs to happen sooner rather than later before the reflationary flows exhaust - e.g:
I would also like to add that late bears who were previously betting on the breakdown of Cryptos and for LTC to go to zero are often inclined to endure their pain in being underwater for some length of time; once they capitulate (we will see the market shaken off immediately via a breakout) our targets will unlock. My view can be seen here in BTC with marching troops towards the border:
As usual thanks for keeping the support coming with likes, comments and etc coming.
Good luck all those buying dips in BTC , LTC, EOS and other Cryptos.