I noticed a lot of twitter talk on the LTCBTC ratio chart about to breakout. A very nice looking chart pattern. My question is if LTC is about to outperform BTC, why not BCH outperform LTC? It seems to be forming a similar pattern to LTCBTC. They are both highly correlated cryptocurrencies as well. Both LTC and BCH seem to have fundamental catalysts that could push them higher. Mimble wimble upgrade for LTC, and the SmartBCH sidechain for BCH. Will be interesting to watch how it plays out. Please comment. Thanks!
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So it seems I have been looking at this the wrong way. The BCHLTC chart is in a descending triangle which is a bearish sign generally, however when flipped upside down to LTCBCH, it seems LTC will breakout against BCH. Thanks to fortunekr for pointing this out
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An update on some further thoughts on this. It seems the idea of these ratio charts like LTCBTC is that the investors holding BTC will rotate their profits into LTC. This would especially make sense since LTCBTC is a tradeable pair on the exchanges. Volume is something also available when charting these pairs, which also give an idea how much BTC is flowing into LTC.
You should flip the bchltc chart the other way round. Ltc will move to half the price of bch - 0.5 (ltcbch). Probably higher. Ltc will be an unstoppable monster in 2022. Would not be surprised to see ltc hit 10% of btc's price this year. Bch will just tag along for the ride (0.16 on bchbtc).
jaepayne
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@fortunekr, Yes I agree with that. I have been looking at it the wrong way around! LTCBCH looks like it will break to the upside against BCH, and 0.5 looks achievable. Thanks for the suggestion appreciated.