Technical Analysis: Litecoin (LTC) - Feb 13th

There was very little action in the cryptocurrencies yesterday, comparatively to what we have been accustomed to seeing. We are still on this move towards the upper resistance line which will be an extremely important decision line as it will tell is if we are still trading within our current trend or if we will finally break out and look for a big upside move. As noted by Gregory Manarino earlier last week, the cryptocurrency markets as well as the stock markets have a certain correlation between the two. When the markets fall, we see more money enter the crypto markets and see increases in both prices as well as market caps. One interesting thing to watch for was the news surrounding Ray Dalio and his short position of 13.1 billion dollars spread out between 20 European companies. This position that they are taking shows how little faith they have in the EU markets and how a correction if not crash is very close to occurring. This event could be the catalyst that propels the cryptos up to their next levels as people will rush to anything that isn't invested within the markets.