LTC Detailed Case Study of every bull run & Possible Targets
Litecoin is known for its gains in the ending phases of every market cycle .
Seeing the current position of Bitcoin, it looks like the end is near.
Using the rally prior to bitcoin's capitulation LTC reached 96USD in its first big run in 2017.
Using the same on the current market gives a target of about 850usd.
However in 2017 ,using the top and bottom of the big knockback after the first big move ,it reached out to its full 4.236 fib extension in the final rally.
But in 2013 it didn't reached out to its full 4.236 extension got stopped at 3.618.
In 2021 , LTC dropped about 75% which is the biggest among last 2 bull run knockoffs.
In last bull run LTC got a knockback after reaching out to its full 4.236 extension by using the rally prior to BTC's capitulation
This time LTC and rest of the alts got a massive knockback after the total market cap got to its full 4.236 extension by using the rally prior to BTC's capitulation.
The structure of the Total market cap is very bullish as we can see from litecoin example in 2017 that after reaching out to 4.236 extension by using the rally prior to BTC's capitulation. there was an extra leg up +
The total market cap has tested the high made above previous ATH which can be seen in various other assets like DJI ,SPX,ETH in 2017,etc .In these structure the markets usually go parabolic after the recovery.
Looking at possible targets of LTC in this bull run :
Target 1 : 850usd using the rally prior to BTC capitulation
Target 2 : 1400usd using the top and bottom of previous correction
Target 3 : 1520usd using the top of 2017 bull run and bottom of bear market.
Interestingly Target 2 and Target 3 are very close and we have 2 factors supporting the 1400-1500usd price targets.
It will be interesting to see how this bull run unfolds.
#NFA
Seeing the current position of Bitcoin, it looks like the end is near.
Using the rally prior to bitcoin's capitulation LTC reached 96USD in its first big run in 2017.
Using the same on the current market gives a target of about 850usd.
But in 2013 it didn't reached out to its full 4.236 extension got stopped at 3.618.
In 2021 , LTC dropped about 75% which is the biggest among last 2 bull run knockoffs.
This time LTC and rest of the alts got a massive knockback after the total market cap got to its full 4.236 extension by using the rally prior to BTC's capitulation.
The structure of the Total market cap is very bullish as we can see from litecoin example in 2017 that after reaching out to 4.236 extension by using the rally prior to BTC's capitulation. there was an extra leg up +
The total market cap has tested the high made above previous ATH which can be seen in various other assets like DJI ,SPX,ETH in 2017,etc .In these structure the markets usually go parabolic after the recovery.
Looking at possible targets of LTC in this bull run :
Target 1 : 850usd using the rally prior to BTC capitulation
Target 2 : 1400usd using the top and bottom of previous correction
Target 3 : 1520usd using the top of 2017 bull run and bottom of bear market.
Interestingly Target 2 and Target 3 are very close and we have 2 factors supporting the 1400-1500usd price targets.
It will be interesting to see how this bull run unfolds.
#NFA
