In a previous post I mentioned that Litecoin should be outperforming Bitcoin until the month of October, and while the Bitcoin price appears to be stalling below its recent historical price peak at $4,885 the Litecoin price is breaking out higher. Therefore it may be a good time for buying Litecoin against the Bitcoin.
With an improved chart configuration thanks to Kraken.com it is now possible to recognize that the weekly trend of the LTC/BTC pair is stabilizing at a high level of volatility (the broad spacing between the volatility envelop). This normally precludes the price from extending outside of the volatility envelop but it should perform another rotation between the lower and upper boundaries. As in the present case the volatility bands and the channel trendlines are practically superposed the highest probability is for the pair price to reach the upper boundary at 0.02 LTC/BTC.
Stop-loss on long LTC/BTC positions should be placed below the lower channel line / volatility band.
Disclosure: I just opened a long position on LTC/BTC at 0.011728.