LTCBTC Wedge is the Reversal Pattern needed for Explosive Move!
>>> Litecoin has reached the lowest levels relative to Bitcoin in its History.
>>> Litecoin/Bitcoin has also broken out of a multi-year downtrend, almost identical to the previous cycle.
>>> LTCBTC Wedge is a very reliable pattern. LTCBTC is finding support in this wedge, suggesting a similar pivotal point is approaching.
>>> The Pivot Trade:: This is one of the best, if not the best swing trades present in the cryptocurrency. Focusing on the LTC/BTC Ratio is key for understanding this trade.
>>> Since the start of 2017, Litecoin's 50 Day SMA average has inverted upwards 12 times. The 12th time is occurring as we speak.
11/12 times this has Chart Pattern occurred, it has been followed to a rise of LTC against BTC . Will this be the 12th repeat?!?
Although this type of pattern recognition, is not my favourite sole type of analysis to use in entering a position. I believe this combined with other factors suggest a high probability of an upwards move.
Hold the Line.
>>> Due to the the 500-700x returns possible if the same pattern repeats. This provides a great option to diversify your trades. Every other stock and crypto seems to be in the red. Falling against the US dollar in the short term. This is the reason why a Ratio Trade provides the best Reward to Risk profile in the Market.
Goodluck Chaps. Have a longer break down on my YouTube channel FortunaAlgoAnalytics. Will post a recorded one here soon.
>>> Litecoin/Bitcoin has also broken out of a multi-year downtrend, almost identical to the previous cycle.
>>> LTCBTC Wedge is a very reliable pattern. LTCBTC is finding support in this wedge, suggesting a similar pivotal point is approaching.
>>> The Pivot Trade:: This is one of the best, if not the best swing trades present in the cryptocurrency. Focusing on the LTC/BTC Ratio is key for understanding this trade.
>>> Since the start of 2017, Litecoin's 50 Day SMA average has inverted upwards 12 times. The 12th time is occurring as we speak.
11/12 times this has Chart Pattern occurred, it has been followed to a rise of LTC against BTC . Will this be the 12th repeat?!?
Although this type of pattern recognition, is not my favourite sole type of analysis to use in entering a position. I believe this combined with other factors suggest a high probability of an upwards move.
Hold the Line.
>>> Due to the the 500-700x returns possible if the same pattern repeats. This provides a great option to diversify your trades. Every other stock and crypto seems to be in the red. Falling against the US dollar in the short term. This is the reason why a Ratio Trade provides the best Reward to Risk profile in the Market.
Goodluck Chaps. Have a longer break down on my YouTube channel FortunaAlgoAnalytics. Will post a recorded one here soon.
Comment:
Very Strong bounce occurred. Looks like a faint to the downside.
Comment:
Looking like a breakout coming within the next month. High Litecoin Transaction Volume, New Network Upgrade incoming and ideal technical setup.
Comment:
Interesting Test of the 100 Day SMA on for the next few days. If we break through, 3000 is the next test. Followed by 8000, I do think we will hit 12000 over the coming months.
Comment:
The recent crypto sell off did test the Ratio and we saw the value hold up well. I think we are getting close to a flow of momentum into, triggered by the network upgrade coming closer to activation. It will be the exciting technical advances, driving cryptocurrencies up this market. Not just hope that price will go up. Think I'll be adding some funds from the equity allocation to this trade.
Don't over leverage your portfolios chaps, this market is to volatile for any more than a 3x.
Don't over leverage your portfolios chaps, this market is to volatile for any more than a 3x.
Comment:
Broken down in the panic selling.
Comment:
Hey everyone, this market is in capitulation mode. I know the markets are bleak at present. If you're in a similar mindset, you're likely struggling to keep the eyes off the charts today. Have a look at the last few corrections. They briefly broke under the 200 Daily SMA. Focusing on the NDX, looks like we have seen peak fear. This is what capitulation feel like. It makes you seriously question your strategies. Makes you consider what if you sold now and buy 10-20% lower. You might successfully do something, to make the best of your situation. You could time it right and make a great decision. I think it's equally likely, we would just miss a rapid bounce. Might be a bit biased but we can only look back at history in these situations. Goodluck Chaps
Comment:
That's a strong bonce from the 2050 level.
Comment:
Its been a rough few weeks Ladies and Gents. Hope you are all holding in there. In times like this, I like to focus on the profits after this bear market has completed. Forecast out your positions valuations for when they return to 1)fair value, where 2)you believe they will valued and finally if we return to above 3) all time highs. Helps to keep the long term in mind, and lighten the pyschological weight of this red price action.
At the risk of being wrong AGAIN, something I admit by entering this trade early (still holding). I believe we are at a bottom. Interesting how BTC came close but did not touch the 200 Week moving average. There is still huge interest in cryptocurrency, it has not and will not go away. Might even be beneficial in the long run, that some of the more risky alt coins and stable coins, boasting great returns of 10-20% annually, have been brought into question.
Bitcoin and Some of the major Cryptocurrency projects (ETH,LTC,ADA,LINK and more just my picks) will be the only currencies in the world to have gained significant value in 10 years. Keep this in mind. In ten years, considering an average inflation rate of 5%.
>>> USD $1.000 today will be worth $0.5987
>>> BTC $30,000 today could be worth $250,000 at the low end.
Some thoughts to keep the chin up. Institutional news/propaganda on the major finance channels, are talking about buying equities at these valuations. They have shaken out all the retail and will now pump up their positions. Might take till the end of the year but they will make >70-100% gains this year, assuming we return to NDX highs. Don't miss out on the return to break even and on to long term profits.
At the risk of being wrong AGAIN, something I admit by entering this trade early (still holding). I believe we are at a bottom. Interesting how BTC came close but did not touch the 200 Week moving average. There is still huge interest in cryptocurrency, it has not and will not go away. Might even be beneficial in the long run, that some of the more risky alt coins and stable coins, boasting great returns of 10-20% annually, have been brought into question.
Bitcoin and Some of the major Cryptocurrency projects (ETH,LTC,ADA,LINK and more just my picks) will be the only currencies in the world to have gained significant value in 10 years. Keep this in mind. In ten years, considering an average inflation rate of 5%.
>>> USD $1.000 today will be worth $0.5987
>>> BTC $30,000 today could be worth $250,000 at the low end.
Some thoughts to keep the chin up. Institutional news/propaganda on the major finance channels, are talking about buying equities at these valuations. They have shaken out all the retail and will now pump up their positions. Might take till the end of the year but they will make >70-100% gains this year, assuming we return to NDX highs. Don't miss out on the return to break even and on to long term profits.
Comment:
The drop to the downside we have seen, could be two things. The first being a widening of the triangle/wedge pattern. It could also be a break down lower. Will be interesting to see if this is a double bottom pattern to continue higher. Also if Bitcoin continues to drop, Litecoin might continue to fall in the ratio. Altcoins suffer in time of fear.