TradingShot

Is this the start of the parabolic run for LITECOIN?

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
This is a simple comparison on LTCUSD of the current cycle with the previous. As seen on the chart, on March 2017, Litecoin broke above the accumulation sequence that was contained under a Lower Highs trend-line and that 1W candle was what kick-started its parabolic Bull Run.

Right now the situation is exactly the same. The current 1W candle is the strongest since April 2019 and just broke above the Lower Highs trend-line with the MA50 well is support. Can this be the start of the new parabolic run?

This is something I looked at last time in September:



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Comments

Good job
+1 Reply
Next 5-6 weeks target 260-300 possible ?
+1 Reply
I suppose a longer Bitcoin uptrend will cause a general altcoin-bull, too. Some investors will try to discover "undervalued, underpriced" crypto-assets when Bitcoin seems to be very expensive.
+1 Reply
More info about LTC done as it broke trendline:

+1 Reply
Thanks alot for capitalizing very quickly on analyses, you make a good point, which shall not be overlooked
+1 Reply
Looking at LTCBTC I could imagine that LTC is due to a recovery. Charly Lee sold at the top and might invest again.
+1 Reply
Long term crypto charts do not follow a parallel channel in the log scale. Instead, they follow a channel that is curving down and narrowing.
Check it out for BTC, it's long term channel is not parallel. It's curving down & narrowing.
+1 Reply
spin_cycle spin_cycle
@spin_cycle, OPs parallel channel provides an upper estimate of 4K in 2022. The curved channel will show you an upper estimate closer to 1K.
+3 Reply
Thanks a lot for LTC Aanalysis. really appreciate your time and efforts 👍
+1 Reply
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