Litecoin (LTCUSD) has managed to make a Triple Bullish Break-out as not only did it break above the 1D MA50 (blue trend-line) and 1D MA100 (green trend-line), both of which have been Resistances since August 2023 but also above the Lower Highs trend-line that started at the May 10 20221 top of the previous Cycle.
This constitutes a Cyclical Bullish break-out...
Litecoin (LTCUSD) is having its 3rd Halving event in less than 5 hours from the time this analysis was constructed. The question on everyone's mind is how will this affect the price action? Will it be bullish or bearish? A reliable way to answer this is by looking into the past events and how those affected LTC.
The previous two Halvings were on August 05 2019...
Litecoin (LTCUSD) is rebounding on its 3D MA50 (blue trend-line) towards the 3D MA200 (orange trend-line). If it breaks above the Bear Cycle Lower Highs trend-line (dashed line), then it might imitate the October 2020 rally. So far the two sequences are fairly similar, even on MACD terms. A break-out rally similar to Oct 2020 can hit the 0.786 Fibonacci extension...
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For this particular analysis on Litecoin we are using the LTCUSDT symbol on the OKX exchange.
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The idea is on the 1D time-frame where LTC hit today its 1D MA200 (orange trend-line) for the first time since December 05 2021! It is easy to realize that closing above such a long-term Resistance will be a major bullish break-out.
The sentiment...
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For this particular analysis on LITECOIN we are using the LTCUSDT symbol on the Phemex exchange.
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The idea is on the 1D time-frame where Litecoin (LTCUSD) has been trading within a long-term Channel Down since the May 10 2021 High. On May 12 2022, the price hit the bottom (Lower Lows trend-line) of this Channel Down for the first time since June...
This is a simple comparison on LTCUSD of the current cycle with the previous. As seen on the chart, on March 2017, Litecoin broke above the accumulation sequence that was contained under a Lower Highs trend-line and that 1W candle was what kick-started its parabolic Bull Run.
Right now the situation is exactly the same. The current 1W candle is the strongest...
In my book, LTC has been one of the disappointments of the year. The main reason is the inability to break the Lower High trend-line of the long-term Channel Down on the 1W chart. In fact, the recent mid-August top was made exactly on the trend-line.
There is light in the tunnel though as the RSI is slightly ascending, while the LMACD is stable too and since the...
Litecoin just broke above the Lower High trend line that started with the June 2019 top. Is this a Bottom and thus a long term bullish sign?
Well a quick comparison with the Dec 2018 - Jan 2019 bottom sequence shows that when the long term Lower High trend line (dashed) breaks, the Bottom is in. The RSI sequences of the two periods is also similar. So what I am...
The title really says it all. LTC is trading around the 1W MA50 on a possible mid term support event for the current Bull Cycle, which is methodically repeating the 2015 sequence. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super strong rise to the mid $300s peak.
Notice how the Top-to-bottom and bottom-to-Halving...
LTC just experienced the Halving event. The current cycle is repeating methodically the 2015 sequence and so far we have reached the point where the 1D MA200 is supporting. This MA period previously held throughout 2015 - early 2017 up until Litecoin initiated its super strong rise to the mid $300s peak.
There is no reason to expect something different this time....
Litecoin is trading on a very simple pattern. On the Fibonacci Channel, every level crossed eventually turns into a support. While this support is provided, LTC is targeting the Lower Highs of the former bear cycle. If this sequence is sustained then the next targets are 185.000 and 370.000.
Litecoin has continued its crazy rise since the December 2018 bottom and only recently made the Golden Cross (MA200/50) which paved the way for last week's $98 Top.
You can't say I didn't warn you about this super aggressive rise in February when LTC was trading at $49 as seen below:
Now, almost 100% higher it may be a good idea to take profit. There are...
