The market drops to SMA100 and the support zone which is formed by 55.00 and 50.00 levels. It's good correction of the previous upward movement. In spite of all indicators confirm downward movement, it's possible to buy in order to build long positions. Pending orders should be placed above 55.00 level. Stop orders can be below 47.00 level. The main thing in such trading - follow money management strategy. Don't invest all money in 1 trade. Have free money for buying on lower levels. If the market breaks below SMA100, the next support zone will be near 36.00 level.
@drsguy437, China has always been the main driver for LTC, with the new Chinese regulation, it will prevent LTC adoption in China as payment system, which was the main goal of LTC vs. BTC, BTC being a store value asset.
Other parts of the world have very little mining farms/pools and close to zero business adoption.
bejaneps
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So the point is, it all depends on Bitcoin price.
Saylo
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@bejaneps, which has all but stabilized. Risk: reward not worth it right now.
bejaneps
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@Saylo, i agree, reward not worth it right now. Better to wait and watch what will happen next.
When should I sell it?