LTC bottom analysis: When to finally re-enter LTC
So, comparing this LTC bearmarket to the last one, we immediately notice the perfect logarithmic donwtrend, which in both cases stood for a long time, until it was broken. Back in 2014, LTC broke the resistance, everyone was getting bullish again, just to
dump afterwards even below the resistance! The resistance should have acted as support, but the dump was so massive that it broke below. Just to rebound epicly, go sideways a few weeks, and then immediately start the epic halving pump.
We might see something very similar this time. LTC looking super bullish, everyone is like: WOOAAAAHHHH!!! LTC bull is back !!! Let's go all in LTC !!! 22 USD was the bottom, confirmed !!!
I remember the same euphoric feelings back in 2014. However, I was a noob back then lol. I bought in too early.
So, what I think will happen is, we also break resistance, are in the process now of doing it. LTC might reach 50-55 USD in this pump without problems.
But then, as BTC prepares for the final dump of this bearmarket, LTC will of course follow. And Altcoins of course do what BTC does, but much more intense. So BTC goes to the 2000-2500 area, and LTC accordingly could go as low as 10 USD, maybe even 5
in a very extreme scenario, but only for a very very short time. Epic rebound follows immediately. And then we'll probably not long afterwards, go into the halving rally.
Why is it likely to happen again very similar? Because it would be a perfect entry for whales who want to make a nice profit. They enter at the low, and make a nice x5-10 profit with the immediate LTC halving pump.
I for one, will not jump on the LTC bandwagon just yet, but patiently wait for another 6-10 weeks :)
But then it will be time to finally buy LTC again, I'm looking forward to it.
dump afterwards even below the resistance! The resistance should have acted as support, but the dump was so massive that it broke below. Just to rebound epicly, go sideways a few weeks, and then immediately start the epic halving pump.
We might see something very similar this time. LTC looking super bullish, everyone is like: WOOAAAAHHHH!!! LTC bull is back !!! Let's go all in LTC !!! 22 USD was the bottom, confirmed !!!
I remember the same euphoric feelings back in 2014. However, I was a noob back then lol. I bought in too early.
So, what I think will happen is, we also break resistance, are in the process now of doing it. LTC might reach 50-55 USD in this pump without problems.
But then, as BTC prepares for the final dump of this bearmarket, LTC will of course follow. And Altcoins of course do what BTC does, but much more intense. So BTC goes to the 2000-2500 area, and LTC accordingly could go as low as 10 USD, maybe even 5
in a very extreme scenario, but only for a very very short time. Epic rebound follows immediately. And then we'll probably not long afterwards, go into the halving rally.
Why is it likely to happen again very similar? Because it would be a perfect entry for whales who want to make a nice profit. They enter at the low, and make a nice x5-10 profit with the immediate LTC halving pump.
I for one, will not jump on the LTC bandwagon just yet, but patiently wait for another 6-10 weeks :)
But then it will be time to finally buy LTC again, I'm looking forward to it.
Comment:
The fake breakout I was talking about could materialize with this latest dump. I see something like this happening:
The low will probably be lower than the low at 22 USD, but not much lower. Somewhere around 15 USD. LTC is bullisher than I thought in anticipation of the halving, and it might not go as low as I thought a year ago. So no 4 USD LTC again.
But 15 is good enough for me:)
The low will probably be lower than the low at 22 USD, but not much lower. Somewhere around 15 USD. LTC is bullisher than I thought in anticipation of the halving, and it might not go as low as I thought a year ago. So no 4 USD LTC again.
But 15 is good enough for me:)
Yeah yeah, I was euphoric back in 2014 when that happened, but not now. Won't fall for that again XD
As XRP and all other alts, they will start dumping very hard, once BTC prepares for that final bottom at around 2300 USD, that I've been expecting since almost a year now.