In my previous post I noted that Litecoin was currently in a downtrend and that price was showing no indication of changing its course. Even with the unexpected spike in Bitcoin yesterday as depicted below Litecoin continued to hold its present course.
If you look at the BTC and LTC charts above its clear that LTC does not always follow its big brother all the time. While both are seeing price decrease both are seeing different chart patterns. Bitcoin looking to complete a head and shoulders and Litecoin proving a downtrend copying its previous downtrend after consolidation.
Moral to the story, take each individual chart for what its showing not believing that Litecoin always follows Bitcoin.
Stay grounded in your trading strategies
Happy Trading
Disclaimer: Not financial advice. Just my opinion.
