Hi! so the drop is expected because momentum was lost, what usually happens is when stock market fall this market drops too but it didn't crash when stock market was going down. So what happened was BTC formed a pennant and pennant usually break either way and it broke downwards with huge amount of volume as you can see, i have never seen RSI go below 20 on daily...
LTC found support at this level multiple time and we are at 0.5 fib level. We might see a move up in few next hours. If LTC break 52$ level it will take us to 49$ level. If we started to move up we should expect a target around 58$ish level
Bulls are showing some moves right now. We need a clear break above 6500 level and 6800 level to show that this market is alive.
short term target 6550 if it break upwards 70% chances are it should break upward.
downward target is 6350