TheChartGuys

LTC on the verge of losing $175 support

COINBASE:LTCUSD   Litecoin / U.S. Dollar
LTC bulls have held $175 4 times overnight and are on the verge of a break that will have us testing the 4 hour higher lows.
A break here will further shift momentum and the odds of bearish continuation.
Correlation to BTC which is still looking at a bear flag pattern on the daily chart .
4 hour EMA 12 resistance rejecting the price, and will need to become support to shift any momentum.
LTC still has a more favorable weekly chart than BTC due to the Litepay run up,
but it looks unable to keep the bullish correlation on its own in the face of BTC weakness.
Personally very picky trying to play anything bullish , requiring hourly, 15 min and 5 min to be oversold before looking for an entry.
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