Technical Analysis: Litecoin - Jan 30th

As we assumed yesterday, the price of Litecoin fell and we're looking for it to test the support at $166. Look for the next move up to either break out of our current trend or continue in the flat. The resolution of this pattern will tell us if we are looking to continue our downward trend as shown by the yellow line or if we will break the trend and see a reversal and the next impulse move up. I still believe this price is a good entry level and if you are still looking to enter to get in now as I am bullish on the longterm play.