Greetings everyone
I am writing to you who are into trading the crypto currencies. I trade the stock markets and now I am learning the crypto trading which still has much to do in order to compete with the stock market type of trading. Anyways I wont rant. I want to warn anyone who is trading Litecoin to pull your coins out and do not attempt to trade it unless you are a day trader and understand how to trade. Ill keep this short and provide the explanation. Litecoin is currently under the chart pattern known as the Dark Cloud Cover ( also makes many Black Swans too ). I highlighted in blue.
Now, this pattern happens more than once which means that Litecoin has major players manipulating the coin as it always devalues after every hike in price into the 50's. Essentially, it gets pumped and gets dumped and it should show you that it will always happen. If your a position trader, you need to wait for the third red candle to complete to get back in. Hopefully you found this information useful. Thank you.