Litecoin (USD, Bitfinex) looks to be in a very similar development as Bitcoin. Where Bitcoin broke through the 200 day moving average (200d MA), however, Litecoin bounced nicely off.
As we reach a possible green 4 in the time analysis and the 0.236 fibonacci level, the trend may reverse down, or continue to try for a green 9 at around the 0.382 (229) fibonacci or around there.
I would be cautios, yet optimistic about Litecoin since it actually held above the 200 day moving average, unlike Bitcoin (BTCUSD) (see my previous post).
