This is daily chart so don't expect fast movements.
Thoughts: Although its not precise, this Harmonic shape can be a BAT or maybe into a Shark pattern if it drops more. On the weekly chart, there is a morning star at the bottom with a green weekly candle does indicate a potential reversal There is confluence with the BTC.D Dominance chart where its indicating further BTC D. % drop to come. RSI formation and level agrees or support with the theory.
How much... I labelled the key support\resistance levels along with matching FIB. retracements.
Note: LTC/USD is looking bullish as well (from C to D) Raises the question: Does this mean BTC has further drops to go, 9K or 8K range?
LTC/USD Daily Chart:
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LTC\USDT chart update, not much on the BTCdaily pairing
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Be aware as there is a bullish div. in the making on the 1 hrly chart for BTC dominance
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1 of 3 target level's reached
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Daily candles hit resistance as per chart. Consolidation to take just below this line for the next move.
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LTC/USDT chart progress...Almost hitting my target, point D. I do acknowledge that further price increase is possible but that is depending on timing of BTC action. The longer BTC goes sideways, the more price gains is there for the ALTs.
Trade closed: target reached
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Got the LTC\USDT call perfect. How this reflects on the LTC\BTC pairing was off in terms of target. However I see this as successful because I was using LTC\USDT as the primary means of measurement. As for the next level target as per this post, it will be after this consolidation BTC period as LTC has hit a strong support level.
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Keep your eye out for the weekly 21 EMA for LTC\USDT
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Chart updates:
Trade closed: stop reached
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I called LTCUSDT correctly however it did not translate well into BTC pairing. LTC is still in a bear market and hence further loses are to be expected. With regards to BTC pairing, the formation was correct but the results are unexpected. This indicates that LTC is becoming a shitcoin expecially if it drops more. Weekly LTC\BTC pairing