Litecoin on the Bitfinex chart hit $370 in Dec 2017. It retraced in the 2018 bear market to $22 in Dec 2018. It did a W pattern by going to $146 in June 2019, then $24 in Mar 2020, then $413 in May 2021. That formed the cup with the top of the cup in the $370 to $413 range. Since May 2021, LTC has gone down to $104 in July, up to $302 in Nov, and down again to $128 in Dec 2021. This has formed the beginning of a handle.
When LTC reaches the $370 to $413 range again it will complete the handle. Cup and handle formations on monthly charts that last for years have a high % of breaking up over the top of the cup and handle to reach their price targets. That minimum price target would be the depth of the cup + top of the cup. Let's say $400 is the top of the cup and the depth is $400 - $22 = $378. $378 + $400 = $778 minimum price target for Litecoin later in 2022.
I've seen these long term cup and handles go farther than the depth of the cup. It can go 2 and 3 times over the top of the cup to reach a long term price target. Two cup depths over the cup top would be $1156; three cup depths over the cup top would be $1534.
If Bitcoin goes to $200K to $250K by the end of 2022 like many analysts are predicting and the bitcoin log growth curves top suggests such a price, then it is likely the BTC:LTC ratio now well over 300 would likely drop in half at least. So $250K BTC and $1500 LTC is not a pipe dream; it's a real possibility.
When LTC reaches the $370 to $413 range again it will complete the handle. Cup and handle formations on monthly charts that last for years have a high % of breaking up over the top of the cup and handle to reach their price targets. That minimum price target would be the depth of the cup + top of the cup. Let's say $400 is the top of the cup and the depth is $400 - $22 = $378. $378 + $400 = $778 minimum price target for Litecoin later in 2022.
I've seen these long term cup and handles go farther than the depth of the cup. It can go 2 and 3 times over the top of the cup to reach a long term price target. Two cup depths over the cup top would be $1156; three cup depths over the cup top would be $1534.
If Bitcoin goes to $200K to $250K by the end of 2022 like many analysts are predicting and the bitcoin log growth curves top suggests such a price, then it is likely the BTC:LTC ratio now well over 300 would likely drop in half at least. So $250K BTC and $1500 LTC is not a pipe dream; it's a real possibility.