Litecoin: Breakout Implies Higher Prices
What an incredible year 2017 was for cryptocurrencies. The entire sector finished the year on an incredibly high note. Then all the euphoria and enthusiasm that fueled this move quickly soured, and the whole complex came crashing down.
To put things into context, at one point, cryptocurrencies reached a market cap of $830.0 billion; four weeks later, that figure hit a low of $280.00 billion.
This was indeed a crash, and anyone who was caught up in it understands what a relentless sell-off can feel like. Although the sell-off was fierce and painful, corrective price action is always necessary in a bull market because it restores.
Written by Patrick Brik CFA, BAS @ https://www.profitconfidential.com/cryptocurrency/litecoin/technical-analysis-this-is-why-higher-litecoin-prices-are-likely-to-prevail/ February 16, 2018 Patrick Brik CFA, BAS