LTCBTC is in a descending falling wedge. With a break up we could see 300% gains in relation to Bitcoin. with Bitcoin hitting strong multi-year resistance consolidation and a move sideways could make for a great move for LTC.
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Looking at the daily timeframe LTCBTC chart we can easly understand that the early bitcoin "spinoff" never won is challenge.
In the last couple of years the BITSTAMP price of LTC have fallen until reaching their lower bottom a few days ago.
Despite the rally of last week, thanks to...
- Litecoin is at the all time low of the last two years.
- Has been in a downward wedge for the last year.
- under all moving averages on the daily.
- Make no mistake It is weak.
- Currently at a double bottom at 0.004041 and A wave
- Could go a little lower to hit the bottom of the wedge and make a final C wave.
- Expecting a bounce off the bottom of the...
I've published the very same pattern back in December 2018 when the previous Bear Market was at its lows and while everyone was panicking, called for a potential Bottom on Bitcoin and a Bull Run to follow.
Why? Simply because of the Litecoin break-out relative to BTC. As you see on this very simple chart, every time the LTCBTC pair breaks its Lower Highs...
Someone asked me if I could do an LTCBTC analysis, and here is my view.
LTCBTC has been historically on the decline. Ever since LTC was created, it kept falling behind.
At first it was the number 2 coin after bitcoin in marketcap, but it has been replaced by other coins.
And since LTC unfortunately does not have very unique features, I think this trend will...
LTC/BTC is nearing the all time lows. Sentiment on twitter has been horrible and saying LTC is done. However, I think having a contrarian view is profitable. Here are some signs showing that a reversal should be happening in the future. The MACD is showing bullish divergence for over a year now. The RSI is showing bullish divergence too. The recent price action...
This is only 30% away from 2016 bottom, pre bull run.
Not sure what to make of this really. Did sentiment flee from LTC due to big man Charlie Lee selling the top of his own coin in 2018?
I would buy a small position at the '16 bottom or within 10% of it just to see what happens, it would seem like it had asymmetrical risk-reward, unless it's literally a dying...