notice the channel ETH has been running against BTC log scale since the start of the year.
we are currently sitting on support. If the channel is to hold,
ETH would have to rise to 0.40 BTC.
This would mean huge ETH price or huge BTC Crash in the coming months.
What are your thoughts?
i have outlined multiple fractal symmetrical triangles in litecoin's 15min chart on the run up to our recent All time high. We are now correcting into a much larger triangle which i believe will prove to be the most explosive one yet!
Golem has completed its first impulse wave and corrective wave 2. GNT is showing a lot of strength during this BTC correction. Currently standing out among many of the other ALTS. Im expecting it to continue higher with nothing holding it back until wave 3 completes.
Soon we will see if Litecoin makes a short term reversal and bounces off purple support or continues its downtrend before the big reversal. Either way my buy orders will be ready to catch it off either support line for a quick scalp
looks like LTC broke above the triangle rather than completing wave E, happily bouncing off support. Rather than going right into an impulse wave it has created a bull pennant. more volume is needed to trigger the breakout
Take a look at the daily BTC/USD log scale chart and we can see where she is headed! We will correct along the way...and once we reach the top, that correction to the bottom of the channel will be harsh! but we can be confident that the top for Bitcoin is a long way off. My hat will be off to the one who can sell the top and buy the bottom @ 100% profit !!
Using Log scale LTCUSD we can see there is huge growth potential. the amazing fact is that during this bullrun, BTC has nearly doubled. ETH has nearly doubled. LTC hasn't even reached previous ATH. IF we extrapolate the data on log scale and apply a similar trend to the previous Litecoin rally, we could expect to see $200+ lite coin early 2018 !!