Litecoin Trading- LTC/BTC Technical Analysis, Oct 1: LTC/BTC outperforms again, challenging 6-week high

Litecoin (LTC) has continued its resilience against Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC), keeping steady as Bitcoin has set new 2014 lows.

Not that Litecoin is it hitting it out of the ballpark. It has experienced its fair share of pain over the past 2 weeks, falling way below $5 and still languishing in the lower end of the $4 range.

But in breaking with conventional behavior, Litecoin has been stubborn in not following Bitcoin on the way down. Since last week's spikes on the PayPal news, BTC has shed 17%, and Litecoin only 11%. There are various theories, fundamental in nature, that can be used to explain this deviation. From a technical perspective, BTC's struggles during the past week have not been characterized by high volume panic selling, which would normally drag LTC down at a steeper pace. Rather, a gradual bleeding of value has materialized.

LTC/USD is currently $4.35 on BTC-e. BTC/USD is $375. Thus, LTC/BTC is trading at 0.0115. Earlier it spiked to 0.0118, which challenges highs set following the August mayhem and Flash Crash Flash Crash The Flash Crash was a major stock market crash that happened on May 6, 2010 in which three major US indices crashed in the span of 36 minutes.In particular, the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite fell nearly 9% before rebounding within minutes. The event differed from other crashes in that most losses were recovered.The crash was believed to be caused in part by Navinder Singh Sarao, a British financial trader. Sarao was later charged with spoofing algorithms, utilized j The Flash Crash was a major stock market crash that happened on May 6, 2010 in which three major US indices crashed in the span of 36 minutes.In particular, the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite fell nearly 9% before rebounding within minutes. The event differed from other crashes in that most losses were recovered.The crash was believed to be caused in part by Navinder Singh Sarao, a British financial trader. Sarao was later charged with spoofing algorithms, utilized j Read this Term. Notably, those highs are on par with the levels held immediately prior to the accelerated selling on August 11. The valley-like pattern reinforces the fact the formidability of 0.01180-0.0120 resistance level, tested but unbroken repeatedly over the past 6 weeks.