Good morning, the targets and timeline shown in the original chart still stands for now (we could theoretically make the last bull flag before kick-off outside of the curve but that's going to be a wait and see call) depending on how the price moves after this final drop. If the timing does hold and the bull flag is made within the curve, that bodes well for the Litecoin to 400 forecast.
As you may have guessed, the price is poised to take yet more of a detour before we kick off the new bull run. Now we're looking at the downward sloping green line as support (somewhere around the mid-7k range). We'll be looking for a hit, then immediate retraction leaving a long wick... and a double bottom. Should this happen, I will be revising my initial target (for the jump after the IHS pattern is completed) from 26.5k to 29k.
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We're probably going to drop to 7850 any minute now... but with any luck that might be it, and we go up from there... obviously such details are never certain, especially with crypto...
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and $7400 for the win...
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it's going to start moving up at a faster clip.
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Final drop incoming... target $6375
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starting to sound like the boy who cried wolf at this point... but... I see a big drop incoming...
Good chart. This is interesting. I have seen the C&H in the same pattern and time perspective. This works also as inverse H&S.
If this works out either way, C&H or inverted H&S would both propel BTC into the next halving and setup the chart for more stable gains.
I do NOT think we are going to 6K. Cypto Fear and Greed index is low - 32 today.
Going to 6K would be almost 30% discount on stock to flow model pre-halving and is incongruent.
Mikki0416
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Agree!!
MoneyPatterns
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So on one day in December, you think we are going from 11k to 26K?
I'm long BTC but I just don't see that happening.
I do see us going to 100k by 12/21.
I do think we could get some kind of inverse H&S or C&H in play, but 26k by Xmas is a tall order. Possible...but difficult.
Thanks for your update.
UnknownUnicorn5518191
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@jbird7839, Thank you for being polite about it :). Yes I think everything has been moved back a 2-3 months. But I stand my the general pattern shown in my initial chart... here's my updated view of it...
MoneyPatterns
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@vidence_pro, I'm saying it would be awesome bro. Glad I didn't come across like a critic or btchy.
I just think its slim. I got a fair amount riding on BTC so I am with you.
I see your logic from the chart though, so it means its plausible. And that is better odds than any lotto ticket :)