Here you see LTC's cyclical behaviour of around 270-280 days. This cycle can be viewed in terms of the Zodiac (360/90=4). 270/90=3, 270+90=360, to which also belongs the moon, which has 13 cycles of 27 days to orbit earth and aproxamitely 28-29.5 days to shift phase. 13x28=364.
An observation of this cycle would conclude September as a month of possible reversal. I personally expect it to pan out a little like last time, a rapid crash or capitulation and an even faster and more volatile recovery. There's about 30 days left till September 9th which is exactly 280 days from the last Major low.
Colours:
Orange= Bear Market Low
Purple = Bull Market High (with extended and possibly higher high tops in the following 60-70 days.)
you can also check to see that from the first orange vertical line in the bottom of the screen there's a 360 day cycle from Major low to Major top of 360 days, confirming the assumed cycles at play. If this Trend continues LTC (and likely the whole market) will be out of a bear market possibly as early as September the 9th.
An observation of this cycle would conclude September as a month of possible reversal. I personally expect it to pan out a little like last time, a rapid crash or capitulation and an even faster and more volatile recovery. There's about 30 days left till September 9th which is exactly 280 days from the last Major low.
Colours:
Orange= Bear Market Low
Purple = Bull Market High (with extended and possibly higher high tops in the following 60-70 days.)
you can also check to see that from the first orange vertical line in the bottom of the screen there's a 360 day cycle from Major low to Major top of 360 days, confirming the assumed cycles at play. If this Trend continues LTC (and likely the whole market) will be out of a bear market possibly as early as September the 9th.
Comment:
Oops, I said *Bear Market Low and *Bull Market High but there was a bullmarket last time LTC dumped to these levels. Just think Major High/Low instead.
Comment:
There was a 58% bounce 34 days prior to the date of the low, LTC has 30 days left till the next 280 day close, cyclically it could see a bounce, price seems to be trying to find support right now.
Comment:
Seems LTC together with some other altcoins started consolidating at this level. Last time it briefly went up before consolidating forming a local high and coming back down before bouncing for real. I'd be inclined to say that there will be another leg down before going up. Marked date is September 12. That's 10 days left.
Comment:
3 days left
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6* days, excuse my chaotic state. September 12th is the marked date.
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2 days left, if you're planning on holding LTC, I'd advise just as with XRP to buy 10% of your allocated budget now, EOS took off a day before the indicated date and XRP took of a 1-2 days after the indicated date. So just average in a span of the next 3-4 days. As the past trades have worked out pretty well. DCA'ing here should give you a very good entry with little downside. Try to buy another 10% tomorrow. I'd then go 50% on the date after a close of the daily. And then the rest when you have confirmation. You can switch it up to however you prefer ofcourse. You can also just wait and see, buying everything on the 13th if the 12th shows confirmation of the cyclical analysis.
Comment:
Maybe another swing down to .786
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Bounced the first time of fib level .886 which is the square root of .786
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I'm going to watch it today, but I probably won't be making a move untill the daily closes. LTC is moving as I anticipated so far. Let's catch a knife ;)
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The exact level of the .786 fib is 0.007513
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So far so good, the day started with a massive dump which is getting eaten pretty quickly. Took on a small long position intra-day. Waiting for the close to signal any further upside potential.
Comment:
In my opinion the market is clearly picking up in strength. I hope you enjoyed this analysis and got the best entry you could wish for. If you'd like to buy me a coffee or something to show your appreciation.
BTC address 3M8hJHVMLfSyAxRmFDf2RuXvZbVeML2NE5
ETH address 0xcE4adBe52C417222566C7D71e53A5bBd8c9617A4
LTC address LSRNoeL3AZfxYdzyieekZSTFhG78vzaoSc
I'll keep this updated once it gets near the presumed sell date
BTC address 3M8hJHVMLfSyAxRmFDf2RuXvZbVeML2NE5
ETH address 0xcE4adBe52C417222566C7D71e53A5bBd8c9617A4
LTC address LSRNoeL3AZfxYdzyieekZSTFhG78vzaoSc
I'll keep this updated once it gets near the presumed sell date
Comment:
Litecoin remains stagnant but consolidations are often a precursor to a move upwards (can be corrective).