Is Litecoin leading Bitcoin?
Updated
There is this catching theory out there that Litecoin might have become a leading indicator for Bitcoin movements this year by advancing it by some weeks. For example Litecoin topped 2 weeks earlier than Bitcoin and broke the daily 21 also 2 weeks in advance with today breaking the daily 100 - let's await and see in 2 weeks, if Bitcoin follows by breaking it's daily 100.
Last days Litecoin tested the daily 100 and closed tight above it, today it seems to break through reaching the 61.8% retracement from the highs it made 3 weeks ago. If it cannot hold that level it will most likely fall through to the 84-86 levels towards the daily 200 and the 50% retracement.
Last days Litecoin tested the daily 100 and closed tight above it, today it seems to break through reaching the 61.8% retracement from the highs it made 3 weeks ago. If it cannot hold that level it will most likely fall through to the 84-86 levels towards the daily 200 and the 50% retracement.
Trade closed: target reached
Yes, LTC followed that predication, actually it fall down to 76, testing the 200 daily and the 50% retracement before performing a pull back - regarding LTC my prediction was conservative but true - for BTC well have to wait and see.
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