The halving spike historically has happened either roughly 30 days before or 30 days after the halving event. Many consider the recent run-up to $144 as being the halving spike. This is far from the truth, the recent run up was due to BTC's astronomical rise. Halving price spike has not been factored in yet.
Where is the proof? The fractal shows an upcoming...
It fell out of a rising wedge and RSI approaching support which most likely it will break, unless it bounces off the RSI support. LTCBTC will also drop under the ichimoku cloud which is bearish and might test the support of the downward blue line. Unless it bounces at the bottom of the cloud.
A drop in LTCBTC usually means a rise in BTC .
the previous harmonic was invalidated because the midpoint dropped very low. A new harmonic can be formed but because the midpoint is low the final point is around 9k (need to zoom out to see it).
LTC has been breaking support after support and if it breaks this support it will drop to $50 eventually. A bounce will target the resistance line of the channel.
Oscillators are bottomed out so there is a good chance it will bounce. Things look much better on the 4hrs (see idea below). So I am biased for a bounce, but not strongly.
The possible price actions,...
Price action punched through major resistance trendline and ichimoku cloud, possibly forming an harmonic.
However, LTCBTC has been a major disappointment with former break-out failing and reaching a newer low. Must wait and see.
A price action pattern is forming that is similar to the one in early august (blue circle). If this fractal follow through, there will be a breakout from the decending channel and the ichimoku cloud would be pierced which very bullish.
The bearish scenario is that the fractal fails to develop, there is a possibility that the price fail to break the its...
Today the BTC/LTC ratio double topped and is dropping. LTCUSD and LTCBTC both are pumping. There has been three occasions since the inception of LTC that LTC outperformed BTC and was a better investment. First was after BTC's 2018 ATH, it lasted 113 days, with the ratio bottoming out at 55. Second was during BTC bear market when LTC rose gradually until after...