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Litecoin/Bitcoin (LTC/BTC) Pulls Back after Correction

Litecoin has been bullish in November. But in the past week, it retreated from around 0.01050000 BTC to about 0.00810000 BTC before a sharp rebound.

LTCBTC

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  • The 1H cart shows the bull run followed by a choppy correction.
  • The price action that bounced off a rising support suggests that the market has bullish bias here.
  • We can look to buy on a dip towards 0.08440000
    Trade Plan:
  • Entry at 0.08440000
  • Stop at 0.07940000
  • Target 1) 0.00933900
  • Target 2) 0.01040000
  • Target 3) 0.01103000

    We should note that the optimism has to do with the prospect of LTC becoming a leader in these 2nd generation coins, which are focused on solving the transaction speed and cost issues (essentially scalability).

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