Litecoin had a stronger retracement than expected from the previous mark up (no one will be perfect on every TA mark up). Now price is in a strong level around 0.618-0.707. wicks are seen on the 4hr, but on the 1 hr they are strong candles. overall, It does look to be a big bullish flag pattern but in the smaller patterns we are seeing signals for a breakout fibonacci extension that can ignite the Bullish flag signal sending Litecoin to the ATH and maybe a new ATH when the price has broken the bearish trend line and resistance level. If all of the following happens, be prepared for mooning season. It would not come off as a shock if Litecoin hit $400 by end of January
@silmaril0875, The flow of assets from altcoins to Ethereum and bitcoin vice versa begs to differ. even bitcoin is looking like it will be having a rally soon
silmaril0875
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@brentonyoung, BTC is still correcting and I think the recent H&S in multiple, shows that it's not even close to being done. But the point I was trying to make is that LTC is tied to BTC to a large extend and they seems to move together.
brentonyoung
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@silmaril0875, Okay. I don't see them moving together in synchronization just yet because the communities look at LTC as another altcoin when the changing underlying factor of BTC, ETH, and LTC becoming the three main cryptocurrencies as a based of exchange to smaller altcoins. but it is very close to becoming the overall factor and already is depending on the exchange used. Right now the two main Quote currencies are BTC and ETH, I Believe very soon LTC will be more accepted as the next big Quote Cryptocurrency in the market. when that happens, it will be feasible to see a synchronized movement between BTC and LTC
piatt.jesse
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@brentonyoung, you can almost lay the ltc chart on the btc chart and have them match up. They are pretty close.
brentonyoung
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@piatt.jesse, towards the Naked Eye yes but they're not fully synchronized at this moment. I think once LTC becomes a bigger quote currency on larger exchanges, it will be more synchronized with BTC and maybe ETH