Update from earlier today: False throw over/bull-trap at just above the resistance line as mentioned previously. Monitor the price action carefully to see if a short-term trade at a support area of $205 holds and if it does not the key psychology number of $200 might provide bulls with some short-term trading plays that can be profitable. If these areas of support fail the next major support levels area generally found in the $194 area and furthermore in the $182-$184 range. In addition, a positive correlation in regards to Bitcoin price must be accounted for so take note of what Bitcoin is doing before prematurely entering a long trade with LTC/USD. As always exercise caution in the market and employ a dollar cost averaging strategy buying small amounts on retracements, as calling a bottom and attempting to time your buys perfectly often does not work as one anticipates. Furthermore, a "WXYXZ" wave structure has been added into the chart as it appears likely that this is the road map more likely to play out as with the traditional wave 4 would overlap into wave 1 territory violating the Elliott rules (unless one is to consider this as a leading or ending diagonal). If price falls below $200.00 with significant bearish volume wait for key support zones (stated above) to consider laddering buys in as moving against the trend of the market is inadvisable from a technical analysis perspective.