Recalculated on the 4h chart and I see the following target, just under $200.
The reason is because I see the 4h chart shows a bullish flag and we are likely just completing this flag. Monday morning could bring good or bad news, but Litepay is on the way this week, so I'm holding Litecoin.
I'll also say that I've rarely held litecoin more than a few hours since 2013/2014 when I lost a significant amount of funds from Litecoin. Back then it went from about $30 to $3 and I've pretty much sworn off Litecoin since then. However, I see good things happening with it lately, so my confidence is restored and I'm willing to take the risk on this one. I'm hoping to see +30% within the week, but would be nice to see within the next 2-3 days.
H&S formation.. 40% drop incoming.
He really do not know what he do.
LTC is clearly moving with BTC
Last week BTC dropped to 7600
LTC reacted by going down to 102
This week LTC is showing lots of support for each level. BTC dropped below 6k but LTC is above 100. There is no way that it will go down to 60 or 70
Bittrex is hence introducing USD pairs. Polo and Binance will be affected as well.
The reason why big exchanges avoided trading directly with USD pairs was because they would have had to abide by financial regulation laws. They could do two things 1. Stop serving US customers (like Bitfinex) or 2. use USDT and remove USD pairs.
Now if USDT falls, which I think may not happen considering this market crash may have resulted in very high trading volumes over the past two months, bitfinex should have sold their holdings and also would have made a lot of money via commission since the 6th of December to 'balance is books'; but let's say if it falls, then prices will go down at other exchanges where USDT is not being sold. An arb will be created as a result... people will move away from USDT and try to buy the fastest moving cryptos to get their money out of the exchange... now '"withdrawal limits'' come into play. Movement will not be easy either at that time.
This is of course all theoretical. It might not happen at all.
People who have been in this market would have anticipated this risk, would have moved out to other exchanges by now. I know as I did. Currently on GDAX and Bitstmap.