Not sure why a redundant and markedly less adopted coin like LTC would be a factor in the above analysis.
You're not the only one. I know altcoins tend to follow Bitcoin and mimic its movements, but Sitarow tries to predict its price from the other side, by looking at the altcoins
It's likely that some traders are moving money between the coins and investing in the ones that are pumping, but I don't think the number of such traders is large enough to dictate price.
The Altcoin volume in this recent BTC to USD price correction has been far lower then that experienced over the last month or two.
Ltc as well as a few altcoins traded on Bitfinex have always been a go to haven as some traders for one reason or another tend to trade only in crypto.
Yet the technique to use altcoins to influence prices between BTC/ALT and BTC/USD BTC/CNY to cash out large sums of alt coins at a higher price has been used and demonstrated in my past posted charts.
Here is a small volume of LTC/BTC on BTC-E from the last 48 hours.
Here is the moderate volume of LTC/BTC on Bitfinex
As far as the "floor" on this BTC/USD drop I also use the 24 hour trading volume Bought vs Sold to indicate a market trend and confidence.
We have indeed met resistance.
8:35PM EST
Check the volume on the left. Bitfinex seems to be oversold. This maybe the result of arbitrage from Bitstamp to Bitfinex. (Loaded) ?
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