As per classical elliot waves theory, a retrace to wave 4 correction is expected an likely. LTC did not bounce off of any meaningful support. Buying here is risky, especially considering BTC did not bounce off of a meaningful support either.
As we can see, LTCBTC made 3 bearish MA Crosses with a more significant 4th one under way.
If Litecoin doesn't hold 0.0085-0.0087 range, and holding this is unlikely due to coming bitcoin correction, it will drop to 0.0065.
If 0.0065 doesn't hold, chances are LTCBTC will drop to 0.001-0.002 range, but we have to evaluate after 0.0065 is reached.
If LTC reaches...
Bitcoin has formed a perfect head and shoulders pattern, which is a bearish pattern.
The parabolic advance trend seems to be broken, but waiting for further confirmation.
A bearish MA cross has occurred, with potentially another and more significant one coming up soon.
Based on these indicators, and taking into consideration no significant correction has...
As we can see, Litecoin made 5 waves.
Currently, Litecoin/USD looks bearish mid-term because of the following reasons:
Elliot Waves completed.
Correction A (of ABC) seems to be underway with target $60.
Litecoin halving momentum is dying.
A perfect Head and Shoulders has formed.
A perfect Head and Shoulders has also formed on BTCUSD pattern; if BTC starts it...
Litecoin rests on 100 MA (support).
Litecoin bounced off of major support @ 94, which was previously in a resistance zone.
When looking at a shorter but still relevant timeframe, like the 4h, you will notice LTCUSD has made a triple bottom.
RSI indicates oversold conditions on LTCUSD pair. LTCBTC pair on every single timeframe is even worse off (for bears) as...
As we can see, Litecoin/Bitcoin has obviously bottomed. It is still within the long-term triangle, which it temporarily faked out of today.
My other and together with this only serious idea (others are obvious troll posts), about BTCUSD road to $320k, shows bitcoin is ready for a correction of 30-40%.
This correction is perfectly timed with LTCBTC ratio having...
Litecoin parabolic run is over (red line).
Bearish H&S pattern formed successfully (blue).
Next support is around $64 (black line).
You fell for the litecoin scam. You got rekt by Charlie Lee; the parabolic trendline was violated shortly after his comment of halving having been priced in. He was not wrong, you were just stupid for buying a coin that has a...
Chart says it all. Remember, yesterday, Charlie lee (creator and CEO of litecoin) said halving already priced in. In 2015, the halving hype pump reached its high 45 days before the actual halving. Towards the halving, its started dumping, and it dumped around 80% of its high.
Right now, halving is only 21 days or so away, and LTC started dumping instead. Next...
The chart is very self-explanatory. I have divided it into different "ACTS", numbered I to V, with a FINAL ACT indicating the last high before the next correction.
Currently, Bitcoin is primed for a correction. The similarities with the ACT I out of the 2015 bear market are uncanny. As you can see, ACT I ended at a value that corresponded to a 65% of the previous...
It's over for Litecoin. There is no recovery from a crash this brutal.
If you switched to Litecoin anticipating a halving pump... you just got dumped on and separated from your precious bitcoins. Don't try to chase your massive BTC losses or you'll lose the little you might have hopefully have left.
Let this be a lesson for people who invest in shitcoins...