Litecoin /USD rate (January 2022)
I’ve been making new considerations for what I perceive in Litecoin markets, still had to spend the last week watching and polishing up my ideas but here’s what I was able to come up with so far.
As always markets can do 3 things, go up, down, or sideways. With crypto, we know it never stays in one place during volatile periods, and I believe we are in a great deal of volatility with Litecoin.
I have picked 3 fractal bar pattern ideas to approximate paths and time frames with, in finer and closer detail than I was able to provide in my last chart. (Original chart)
I do expect that the last few recent months of bloodbath will eventually hit a stopping point, sometime between now on January 11th 2022 and February 20th 2022 at the latest. If it doesn’t follow the white fractal upwards just yet, I suspect it could drop along my red scribbles and the yellow fractal pattern, and then officially make its reversal after hitting a low $87-$93.
The next major bullish target could end with 2 distinct possibilities in my opinion. If the alternations follow yellow, the next major high before more blood could end near $173. If alternations can manage to follow white or get back on trend with cyan, the next major target could end near $222-$244. I suspect that either of those price targets can be achieved between late March 2022 and late May 2022.
Afterwards will not be pretty if I am any bit “on track” with price action movements. May 2022 through December 2022 could yield some very significant losses in my opinion, but I think May 2022 through August 2022 will yield the largest part of a drop immediately.
Cyan and white fractals in this configuration both indicate dropping to $35, bouncing to $85, and then dropping to $14 by December 2022. Because of this, I am leaving the expected floor value to be $26 with a margin of ±43%, which I understand is very broad but I just think price can fall to that range if even only momentarily. It’s roughly $14-$39. $39 Litecoin seems like the best bet with the yellow fractal ending near my main 3.618 fib multiple at $42.
All of this can be wrong, but I can’t really know for myself without watching. I may need to adjust the 3 different Fibonacci setups I have here later but I need to get some more data printed first before I can have a better idea of what to do in my opinion.
To be explicit: I believe peaks and lows that will be achieved from now until early/mid-2023 are:
Low: $26 (±43%)
High: $233 (±5%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now.
Previous chart:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
I’ve been making new considerations for what I perceive in Litecoin markets, still had to spend the last week watching and polishing up my ideas but here’s what I was able to come up with so far.
As always markets can do 3 things, go up, down, or sideways. With crypto, we know it never stays in one place during volatile periods, and I believe we are in a great deal of volatility with Litecoin.
I have picked 3 fractal bar pattern ideas to approximate paths and time frames with, in finer and closer detail than I was able to provide in my last chart. (Original chart)
I do expect that the last few recent months of bloodbath will eventually hit a stopping point, sometime between now on January 11th 2022 and February 20th 2022 at the latest. If it doesn’t follow the white fractal upwards just yet, I suspect it could drop along my red scribbles and the yellow fractal pattern, and then officially make its reversal after hitting a low $87-$93.
The next major bullish target could end with 2 distinct possibilities in my opinion. If the alternations follow yellow, the next major high before more blood could end near $173. If alternations can manage to follow white or get back on trend with cyan, the next major target could end near $222-$244. I suspect that either of those price targets can be achieved between late March 2022 and late May 2022.
Afterwards will not be pretty if I am any bit “on track” with price action movements. May 2022 through December 2022 could yield some very significant losses in my opinion, but I think May 2022 through August 2022 will yield the largest part of a drop immediately.
Cyan and white fractals in this configuration both indicate dropping to $35, bouncing to $85, and then dropping to $14 by December 2022. Because of this, I am leaving the expected floor value to be $26 with a margin of ±43%, which I understand is very broad but I just think price can fall to that range if even only momentarily. It’s roughly $14-$39. $39 Litecoin seems like the best bet with the yellow fractal ending near my main 3.618 fib multiple at $42.
All of this can be wrong, but I can’t really know for myself without watching. I may need to adjust the 3 different Fibonacci setups I have here later but I need to get some more data printed first before I can have a better idea of what to do in my opinion.
To be explicit: I believe peaks and lows that will be achieved from now until early/mid-2023 are:
Low: $26 (±43%)
High: $233 (±5%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now.
Previous chart:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
