LTC will continue to reduce liquidity. Not sure how effective that is going to be at containing this environment though. A move towards 93 is a matter of when rather than if. Happy to sit in LTCUSD longs for now, the move is unstoppable at the moment. If BTC and cryptos can have a strong couple of days, spot could easily touch 90 this week. Stay long...
Litecoin has been forming this pattern which we have already seen back in november 2018.
I am expecting a fake bull run of BTC to 8-9 k levels, LTC will follow the king as well.
Below 41 usd will invalidate this run, 38 target will be on the table before a run.
As I predicted before using fractals the BTC to LTC ratio is dropping inside a channel. It's projected that it will reach 43.5 . Which means LTC will be around $500 when BTC reaches $20k.
However, whatever price BTC and LTC reach, LTC will outperform BTC by many factors until early December. So switch your BTCs to LTCs.
On the 4 hour chart, Bitcoin looks to have completed an Elliot Wave Cycle. After completion of a corrective ABC pattern at a significant .618 retracement level of the initial impulse wave (1-2-3-4-5), the price broke through a long term S/R trend line. (see red trend line) With the RSI > 50, and significant resistance ahead (see blue rectangle zone of S/R), a 1st...
Took a while to create.
The idea was to use measurements from Volatility, Fib, Ichimoku Clouds to create an idea of what the price would look like from the first peak if you were standing there looking in the distance.
I think this shows we are bullish as well due to the fact we had support above breakout resistance from last time.
More Pictures in description
In this chart you can see LTC/BTC support and resistance levels. LTC's biggest challenge is to break the 0.01 resistance, if it does that it will be a very strong bullish sign. It is very unlikely that LTC will reach Support 1 or 2, it will probably move to the 0.010 resistance, followed by a short drop of 2%-5%, followed by a sharp jump to 0.0107, It will stay...
Although many of us wanted one 4-hour bar to shoot past the all-time high, we have to deal with some healthy correction for Bitcoin to establish it's prospective bullish trend. It seems as if any potential inverse head & shoulders or cup & handle formation can be considered unlikely following the symmetrical triangle breakout. We can expect a drop to the white...
Bear with me here because there is a ton of information on this chart (no pun intended). Looking at the 4-hour chart, there are a few bullish formations that can be identified:
1. Ascending wedge (light red)
TARGET: ~8100 (approx 1200 EMA)
STATUS: Broken out
2. Bull flag (white)
STATUS: Broken out
3. Inverse H&S (green)
TARGET: ~7780 (exactly 7780...