Hi guys, I could almost copy and paste my analysis for ripple into here but i see this more as a buy opportunity as LTC hasn't been hammered with FUD as much as XRP. Sure it has had plenty but not so much as his little brother. Anyway moving on with the analysis, the 200 MA, 0.786 fib and trend line formed by previous lows all inhabit the same region so support should be found but with big mama BTC dragging LTC down I don't think it will hold. Therefore a likely retrace and bounce off the 1.0 fib is likely. RSI is in the 20 region so a bounce of the lowest fib looks good.
This all depends on BTC's behavior so if BTC bounces off its lower targets then LTC should do the same, if BTC breaks down to really ugly levels then at least there is a stop loss.
Be sure to check out my Ripple and Bitcoin analysis and feedback and critique is appreciated.
This is not financial advice
I bought 1 more litecoin a little while ago just for fun. I'm down pretty heavily now. I am ready for some retracement anytime.
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I'm confident in a month we will be back to normal if you bought to hodl just forget about it and check back in a few months and boom nice profits :) That's what i do for my long term holds anyway good luck to you my friend.
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