LITECOIN: LTCUSD Next entry point close at hand

LITECOIN LTCUSD
The breakout above the upper parallel of the flag formation
was very disappointing. The failure has forced LTC back down
the same parallel and rinsed out stale bulls along the way.
It's now back to the start point and if it's going to rally now, it
should be from here. Look to enter long again between 288
and 284 with stop below 282 for small loss if wrong from here

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Litecoin: LTCUSD
Litecoin's rollercoaster ride continues. Having shot up 17% in less than 2 hours LTC ran out of buyers just under the
old high. Running a trailing stop under a fast move like this is a great option for more than just day traders when they
occur, especially if, like here, you can run a speed line under the entire move that ran trustworthy and true right
to the top almost..note how the first red candles appear right as that little line is tested and then broken...
(remember this pattern and when you spot it in a position you are long of know that every day trader in town has also
seen it, knowing they have lost this trade on upside they can catch it on downside once the supporting line is broken.
Having returned to the start point, rinsing out every stale bull in the process it's begun to stabilise at 280 spike lows
with the medium term dynamic support line rising just below here. It needs to clamber back above 286 and to hold
there before the bears will retreat now. It should be OK to buy on the next dip or as the upper parallel is broken on
upside...try running a line under the rally if it develops from here and use a break below it as an exit.
At all costs the trend line at 278 now must hold today at all costs.