Litecoin is in the largest potential harmonic reversal zone of its 7 year history, with the pattern covering a period of 1.5 years. There's a strong probability for a market-wide reversal beginning now if this potential harmonic reversal zone is valid, and we may head to all time highs due to the sheer size of this harmonic and the correlation to other charts, the momentum on all timeframes, the elliott wave count, and the general long-term bullishness of cryptocurrency.
However, if this day's low does not hold and we continue to break down further, then it is likely that we may see some more sustained downtrend before any sort of reversal takes place, and it would be best to go back to hedging.