Here we are tracking a -27% correction on the menu for Litecoin. It is a very similar environment to that of the BTC and ETH charts (see attached). The books are looking particularly thin and smelling a flash crash towards 73. The upside is becoming very crowded, this rally can be faded in my books as a healthy correction looks overdue.
From a technical perspective we are tracking the beginning stages of a 3rd impulsive wave to the downside. The underlying nature of the selloff since 108 has looked impulsive and would suggest these levels will attract selling interest.
Best of luck those working the sell-side.
From a technical perspective we are tracking the beginning stages of a 3rd impulsive wave to the downside. The underlying nature of the selloff since 108 has looked impulsive and would suggest these levels will attract selling interest.
Best of luck those working the sell-side.
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