TheChartGuys

LTC Weakest of the BIG 3

BITFINEX:LTCUSD   Litecoin
Staying true to the last week+ of correlations, LTC is the weakest of the BIG 3.
ETH is the strongest with continuation to higher highs, BTC has a double top, and LTC has a clear lower high.
This has been the pattern for a long time, and while laggard plays are certainly a strategy,
I find that these crypto correlations benefit those who just play the strongest names bullish and the weaker names bearish.
This is a strategy I use for stocks often as well. Go with the visible momentum.
In the video yesterday I highlighted how even if BTC hit a higher high, because LTC has consolidated the most, it would be a laggard to the higher high following BTC. Recognition of how names compare is an important skill to have. I just use the chart visually and compare the time frames. You can also use the LTC/BTC ratio for some information as well.
Anticipating a 4 hour tightening range today with a break tonight to indicate direction of momentum to start the week.

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