lets see how this works out. LTC seems to like the .618 mark on retrace. I think we will see a full retest at this point (290) with a full one hour candle before going back up. Gdax resuming BCH trading tomorrow morning is most likely going to impact this outcome to some degree so keep an eye out on that. Let me know what you guys think, good or bad. I'm still working on perfecting this new craft.
A lot of fresh investors still heavily buying LTC because it is cheaper and easier than other top coins. As said before, feels better to have a real little bag than for example 0.4 BTC. Bigger investors won't dump because LTC is fast and reliable for wealth transfer. Only up in my opinion. This coin is till undervalued compared to others.
Synn
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Do you think ltc is still following btc. It seems to be moving with it 90% if so will it go past the 290 Mark? It dipped below before.
piatt.jesse
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@Synn, It did dip down past the 290 mark by a bit but it was only for a minute, bulls pushed it back up very hard and fast. This tells me that there seems to be very strong support at the 300 level. I think for the moment LTC will follow BTC some but we still have lots of new buyers coming into the market, especially on coinbase. The first thing the new buyers see is that ltc is the cheapest and that they can buy more with their money. New buyers seem to like the idea about being able to buy whole coins and not just a fraction of a coin. Because of this I think the price will not dip much lower than 300 and in the medium term have a good chance of seeing a $500-1k LTC before a true correction takes place. The newly announced futures trading along with all the cross table holiday talk about crypto is really making strong TA difficult right now.
Synn
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@piatt.jesse, thank you for the reply. I'm learning.