This does not look pretty...
Chart #1 : LTC/BTC / BITFINEX / 1D https://www.tradingview.com/x/PlGvvGsX/
I have been pretty optimistic about Litecoin before but I am just not sure anymore. The opportunity of breaking through the Kumo Twist to the upside seems to have gone down the drain due to recent breakdown of Bitcoin. Even if Bitcoin recovers which I am hoping for in the next few days, I don't see Litecoin recovering as much. There are so many hurdles and obstacles on the way.
The decreasing Kijun Sen (red) line will be the first resistance with long-withholding resistance price level of 0.018150 right above that. IF Litecoin breaks through into the Kumo cloud, the price will quickly halt at 0.019150. There needs to be a STRONG buy volume to get through all of these barriers which I cannot hope for in the recent uncertainty.
It is definitely unfortunate that Litecoin just cannot catch a break for almost 2.5 months now. Looks like that trend will continue at least until the foreseeable future.
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