TradingShot

Litecoin made the Halving bottom. Long term consolidation ahead.

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
LTC just experienced the Halving event. The current cycle is repeating methodically the 2015 sequence and so far we have reached the point where the 1D MA200 is supporting. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super strong rise to the mid $300s peak.

There is no reason to expect something different this time. Unless we see a major divergence below the 1D MA200, I expect this level to attract buyers and give sporadic spikes on a lengthy consolidation until the next super strong parabolic rise that should come through massive adoption.
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If the LTC price falls significantly below the daily MA200 like it did in 2014 and 2018, would you recommend selling LTC?
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tremendous analysis
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this pre-halving top is due to BTC pumping 300%, july 2015 halving top was 500% while BTC went up 50% only.
+1 Reply
Nice analysis!
+2 Reply
@Samoto, Thank you! I highly value your input!
+2 Reply
Samoto TradingShot
@TradingShot, thank you for providing the value also! This time I used it in my educational post for a follower. You can check it out:
+1 Reply
Samoto Samoto
After you click the graph above you can find it in comments.
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@Samoto, Thanks again for that!
+1 Reply
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