Litecoin (LTC) Market Update for Dec 4, 2018

Dec 5, 2018 --- Altcoins


Compared to the other altcoin charts we've seen today the LTCBTC 3-day looks downright bullish considering we still have an intact SCMR CR UP confirmation which is being followed up by a neutral signal despite the selloff earlier today, and while market structure remains technically broken it is improving as the demand area continues to attract support which bodes well for the bulls moving forward. We can also see that the momentum oscillators are moving higher with plenty of room to run which we still think could spark a rally up to the mid-0.008's in the not too distant future, however all of the other technicals that we follow remain firmly bearish and ultimately point further downside which is why we are keeping our PT entries much lower until further notice.

We will consider a LONG position on a pullback down to the 0.00xx - 0.00xx area with a stop around 0.00xx and a target of 0.0xx.

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