Crypto Trading Update: LTC - March 13th

What a mess... That is about all I can say about this corrective pattern we saw yesterday. Currently Litecoin looks to be trading in a flat pattern so this would lead me to look for the possible downside we have been looking for since yesterday.
I would imagine this pattern would break to the downside relatively quickly with very little warning when it does like we saw on the big impulse move early on the 12th. If you are not comfortable trading this smaller pattern I would hold out and wait for a better buy entry should we see the downside move we are expecting.

Looking at the 5 minute chart you can see the flat pattern more clearly and how it is continually bouncing off that lower support. I would look for a healthy bounce off this low yet we have seen something like this trick us before so be weary and place your stops appropriately should you trade it.

Good luck trading and keep an eye out for my update on this trade as it progresses. Should we hit the downside target I will post an action alert for an entry point.