TheBrko

LTC - really dead coin or very overlooked potential?

Long
BITTREX:LTCBTC   Litecoin / Bitcoin
Litecoin is probable the most underestimated coin in TOP 100 and maybe beyond.

Almost all tweets about it says: "It's dead", "Shitcoin", "It will never reach previous highs", etc.

But only one thing is certain: LTC will hugely outperform BTC in next months. Mega bearish stance from crypto community, awesome looking chart and bull run history are my allies here.

When it comes to chart you can notice huge bullish divergence on RSI. Price is at historic low accumulation level.

The price is close to breaking out of a falling wedge.

When ( and not if ;) ) you notice volume rise, Stoch RSI to break resistance (similar to the last bull run) better fill your bags.

I expect some resistance around 200 weekly MA and Anchored VWAP (blue line), but after they are broke path to the 340% and 480% gain is clear.

If LTC by some miracle breaks to the new ATH (compare to BTC of course, $ ATH are certain) my target is 1.618 Fib. extension which is aprox. 860% from current level.

Watch closely this trading pair and good luck!

If you like analysis please consider leave a like or comment! Thanks :)

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.