Poor Litecoin... It was out of the correction doing its own thing but Bitcoin said "come play with me it's fun down there".
At least now you can see on the chart Litecoin is close to some pretty strong supports.
If these doesn't hold, we go straight for 150$ losing these supports would be pretty bad, and Bitcoin could easily bring LTC down all the way to 100$...
With 125$ as a tiny possibility reversal zone.
Right now it's neither safe to short nor to long Litecoin. 100$ could be a good buy opportunity.
If you're looking for a floor for Litecoin considering BTC drop to 1000-2000 dollars, prepare your hearts, for Litecoin it would be 3-5 bucks. Yep. Hope you're not holding since 300 if that happens.
Aaah poor Litecoin.
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
Bear pennant: "YES THEY DESERVE TO DIE! AND I HOPE THEY BURN IN HELL!"
Long term investing should happen on long term support visits.
That or dollar cost average...
My personal favorite: dollar cost average on long term supports, aka the godlike mastermind strategy.