Friends, haters, whatever you may be... In my previous post:
I signaled bottom was in and LTC was going LONG into 2020.
Well I have good news. We have officially broken the downtrend! What does this mean? Well, I believe it to mean the bottom is in, but time will tell. Obviously bitcoin runs the crypto space and we need bitcoin to start making higher highs and Litecoin should follow.
There is also good news in this as the bitcoin halvening is coming up in June and that has signified the start of a long bull run for bitcoin the past two times it has happened in bitcoin's existence!
I will not be making price predictions as nobody truly knows where are headed but I am LONG on LITECOIN!
the LTC/BTC ratio is also near all time lows and has started to breakup as well (chart posted below). This would signify that Litecoin should grow % wise faster than bitcoin and have larger gains! HOW EXCITING!
If you would like me to continue posting analysis on LTC and Crypto, then please give this idea a thumbs up and be sure to follow me for notifications on when I post!
Good Luck to All!
*This is not trading or investment advice but purely my opinion and technical analysis. This is for educational purposes only and trades/investments should not be based on this. Do your own research and make your own decisions on what is best for you!
Well I have good news. We have officially broken the downtrend! What does this mean? Well, I believe it to mean the bottom is in, but time will tell. Obviously bitcoin runs the crypto space and we need bitcoin to start making higher highs and Litecoin should follow.
There is also good news in this as the bitcoin halvening is coming up in June and that has signified the start of a long bull run for bitcoin the past two times it has happened in bitcoin's existence!
I will not be making price predictions as nobody truly knows where are headed but I am LONG on LITECOIN!
the LTC/BTC ratio is also near all time lows and has started to breakup as well (chart posted below). This would signify that Litecoin should grow % wise faster than bitcoin and have larger gains! HOW EXCITING!
If you would like me to continue posting analysis on LTC and Crypto, then please give this idea a thumbs up and be sure to follow me for notifications on when I post!
Good Luck to All!
*This is not trading or investment advice but purely my opinion and technical analysis. This is for educational purposes only and trades/investments should not be based on this. Do your own research and make your own decisions on what is best for you!
Comment:
Here is the LTC/BTC ratio! We have started to push the bollinger bands out, which usually signifies the start of a run!
Comment:
One thing to note is although Litecoin has broken out of the downtrend, Bitcoin is still inside its downtrending channel. Proceed with caution as if Bitcoin gets rejected on breakout, it could take the whole crypto market down with it like it has always done in the past! Bitcoin is King!
Comment:
The LTC/BTC Ratio does show a strong bullish divergence in the indicators, I would expect this to keep increasing for the near future - if Bitcoin falls, Litecoin should fall less, or if Bitcoin rises, Litecoin should rise more!
