So where do we stand today? The BTC market has had a secondary reaction with the closing low of 239.80 followed by a rally up to 251.81 (247.32 at time of writing). This moves the level where we start to get cautious up to a close below 239.80 but remember – this needs to be confirmed by the LTC market before we get a signal that the Primary move has reversed.
LTC market? Well the picture here is not quite the same. LTC has continued to outperform BTC and has closed above the previous high close of 3.114 (trading 3.0600 at time of writing). This means, under Dow Theory which as regular readers know is how I base my trading, the trend continues upward and only a confirmed break of the previous low down at 1.6050 would change that trend.
So how are our trades looking?
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