I think It is going to be a normal pop, but it could be quite large. We will see. I'd pick up some Litecoin at these levels, it could shoot. This is a long term macro look that is going to resolve in a few.
We have a Falling Wedge with Extreme Amounts Bullish Divergence on the RSI at the 100 Percent retrace of a Bullish Shark within a large 4 year structure. LTC is not only setup to outperform BTC but it is also setup to outperform Bitcoin Cash and Ethereum.
As of right now BCH, BTC and ETH charts look very bearish so it would be very interesting to see if Litecoin...
- On the weekly scale we can spot a huge falling wedge - bullish pattern.
- RSI indicator is printing a bullish divergence.
- Profit target is 0.618 FIB retracement.
- Litecoin can explode anytime right now!
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below...
LTCBTC formed a triangle in my opinion there are almost equal opportunities for breakthroughs up and down.
Fake breakout is very possible, one should be careful and wait for confirmation.
Disclamer: This is not financial advice.
You trade at your own risk.
1 - Litecoin does 5x over Bitcoin
2 - Bitcoin breaks out before cycle peak
3 - Bitcoin peaks at 4 year cycle
4 - Bitcoin bottom of bear market
5 - Litecoin halving
6 - Bitcoin Halving
7 - Bitcoin approaches previous all time high
Shout out @masterbtcltc
I believe in a rise of LiteCoin, and here I present the reasons.
Litecoin was the first major altcoin to be created after the emergence of Bitcoin, in order to reduce transaction costs.
Some analysts say it is outdated, as Bitcoin is already able to solve this problem through the Lightning Network.
However, it is noteworthy that the...
At some point in the future Bitcoin will be used as corrporate and international settlement and take the place of the world reserve currency, probably around the same time everyone will realize what Litecoin is. Hold on to this one for your kids.
Litecoin has officially broken this massive, multi-year wedge... on the up side... this is a great formation which once broken, will see massive gains.
As such, LTC is well on its way to pump towards higher levels vs Bitcoin. The first real test will be at 71k satoshi, after that 100k satoshi.
These levels should also take LTC over $400 on the USD pair which...