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LTC Reversal Off of $121 Going LONG

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KRAKEN:LTCUSD   Litecoin
Litecoin just hit support at the $121 - $124 range and I believe it will reverse off of here. it will take time to reverse and a pump should come in the first week of February.

Daily Time frame of LTC


Looking at the daily time frame of Litecoin we can see that its already dropped 34% and looks like its bouncing off of $121. Its going to take some time to bounce back but this was a typical capitulation sell off. I believe it will bounce off of $121, worst case wick $114 before reversing back up.

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