TradingShot
Long

LITECOIN The leading indicator for BITCOIN?

POLONIEX:LTCBTC   Litecoin / Bitcoin
I've published the very same pattern back in December 2018 when the previous Bear Market was at its lows and while everyone was panicking, called for a potential Bottom on Bitcoin and a Bull Run to follow.

Why? Simply because of the Litecoin break-out relative to BTC . As you see on this very simple chart, every time the LTCBTC pair breaks its Lower Highs trend-line (blue line), Bitcoin initiates a new Bull Run. Out of the past 4 occurences, only once failed to delivered a new BTC bull run, and rightly so as it happened at the top of Bitcoin's Bull Cycle (whoever bought near 20k was responsible for their actions).

Are you waiting for this break-out to take place on LTCBTC? Feel free to share your work and let me know in the comments section!

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Comments

Hey TS... that's an interesting find! While BTC has technically been in a bull run for awhile this time around, it does appear that the LTC signal is still useful in that it has indicated a consolidation channel breakout which I'm fairly certain (as can be in this stuff) that the recent BTC break up and over the middle BB then subsequently up and over the upper BB, which then resulted in BTC also powerfully breaking up through the 10,100 and 10,500 resistance levels is in fact the start of the next major leg up in the current ongoing bull run.
+3 Reply
Ethereum_948 cosmicnexus
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+3 Reply
Just literally figured this out last night. It feels as if the idea has been stolen!!
+1 Reply
very interesting !
+1 Reply
nice job
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man this is great stuff - I really like your attention to detail on all the candle sticks - totally man keep up the great work .
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Take a look at Dogebtc chart, it is the exact same chart.
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ltcbtc weekly chart for approving btc movement? I must admit this is new but literally can done with any other pair
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sorry to post charts on your chart, that is so rude. But i have a question. What if its drawn like this, to include btcs last moves ? or should i slap my bull brain a little ?
either way, definately going to keep an eye on LTC ! Thanks !
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ElPsyKongroo369 NaturalPatterns
@NaturalPatterns Diagonal Trend lines are subjective to the trader. You can make use of them but there needs to be other factors for placing a trade in my opinion
+2 Reply
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