Recently the BTC to LTC ratio (the inverse of LTCBTC) dropped out of its midterm rising channel, resulting in a larger pump for LTCUSD compared to BTC. Whenever the ratio drops, that means LTC outperforms BTC and the inverse holds true.
Now a bullish harmonic has formed, and the retracement to the channel support corresponds to the 0.5 fib of the harmonic.
I expect that the ratio drops again after it retests the channel support. However this is the cryptosphere and maybe the ratio will go back into the channels resulting in Alts underperforming compared to BTC. The fact the daily closed greater than 5% out of the channel reduces the chances of a 5% failure, or fakeout.
This possible ratio price action translates into a lot of volatility for LTCUSD, dropping hard, then surging very hard.
Now a bullish harmonic has formed, and the retracement to the channel support corresponds to the 0.5 fib of the harmonic.
I expect that the ratio drops again after it retests the channel support. However this is the cryptosphere and maybe the ratio will go back into the channels resulting in Alts underperforming compared to BTC. The fact the daily closed greater than 5% out of the channel reduces the chances of a 5% failure, or fakeout.
This possible ratio price action translates into a lot of volatility for LTCUSD, dropping hard, then surging very hard.
