LTCUSD - bullish - above 2nd resistance level

9 พ.ย. 2017

Litecoin continues on its tear upwards. On a previous trade I had stated the break through and sustained close through the 55.80 level was a bullish signal. The beautiful thing about being long LTC is we are also in a continued upward trend starting around sept 18th. So a bit safer to be long as we are not going against the ongoing trend, which is up. Short term we may see a little profit taking a drop to 61 - 64 range while BTC decides what it wants to do. I'd look for some consildation at current levels for a short period, LTC building a base to jump higher. Next target is around 70.50 range. Alts continue negative correlation with BTC. This is fair as BTC pulled a lot of money out of alts on the run up to its current level. With Segwit2x cancelled people maybe see a better value in ALTS. So watch BTC. If BTC moves higher it will have an effect on the LTC move, most likely pushing it back down some and stalling this rally back to its longer term uptrend in the 52-62 range.