Not looking good on the harmonics or RSI.
I threw in some fractals to guess what is going on with LTC. I used a fractal from when the trend reversed at the bottom this year and one for the 2018 ATH. Personally, I believe that fractals are highly subjective. They only reinforce the analysts confirmation bias. There is no set rules or back testing for fractals. So these fractals are here to see how much...
LTCBTC hit a major resistance line, if the price is rejected at this line, price will drop and break the ascending triangle. I am more in favor of a down move because it will complete the ultra huge bullish shark (blue) from my previous idea. Also BTC is bearish and a drop in BTC will elicit a big drop in LTCBTC, and I have predicted in a previous idea that the...
A near perfect bearish shark will complete when price reaches $57.66. The intended target is 1.68 the CD leg to $48.42 which coincides with the resistance of the descending channel that price action is within. This drop will hopefully form a bearish divergence on the RSI on the large time frames that will signal a possible reversal in trend. Similar harmonic...
BTC broke out from a descending channel. Target of the channel is $8720, which if reached will complete a bearish shark harmonic. Target also coincide with the resistance line of a falling wedge. If price is rejected at the resistance of the falling wedge, it will validate the wedge and bearish shark formation, implying a drop to the support of the falling wedge...
Following Elliot wave theory we have been in a double three corrective wave since completion of wave 1 at the yearly ATH of 13.5k. We are completing wave C, which is the last wave in the corrective structure. If we assume that wave C will be 1.618 the length of wave A it will bring us to $7540. After completing the correction, wave 3 will begin which is usually...
Infliction point on the daily RSI validated a falling wedge that started with this year's ATH. RSI can break out of the falling wedge now, or bounce around it.
BTC dump killed the ALTs and BTC dominance is rising which in a bear trend is very bad for Alts. Currently the BTC to LTC broke up from a symmetrical triangle. The triangle is formed a by a descending channel and an ascending channel. The ratio is expected to go very high between 180 and 190. This is very bad news to LTCUSD, if BTC drops more LTCUSD will drop even more.
The highly unpredictable LTCBTC is set to have high volatility due to the completion of a very large bullish butterfly pattern, however LTCBTC must drop to 5334 mBTC for the pattern to complete. Currently price action under a descending trendline, if this trendline is broken with volume then a big move is expected upward without the completion of the harmonic...
BTC is accumulating bullish patterns after the catastrophic drop, signalling an end to the carnage. BTC currently is trending down a descending channel that is within a large falling wedge. It is completing a a very large AB=CD pattern that started with this years ATH. It is also falling a very large shark pattern that will be completed with a trend reversal. The...
Bullish ABCD pattern on the macro scale, support by fib circle. I drew this fib circle prior to the dump. Price might fall a further down to form a bullish divergence on the RSI with the big dip on the lower time frame.
the recent BTC dump showed that some Alts held their ground relatively better than BTC. This shows strength in alts. And when BTC recovers or hold its level, alts are pumping. BTC dominance is also falling.
It remains to be seen if BTC drops further, however its interesting to see that a falling wedge is in play and an Adam bottom has formed like before. Could an eve bottom form, for an Adam and Eve double bottom and then a rally to 12.5k?
although the stated next fib is around 55 and next support at 52, looking at the channels we can see that current breakdown from the ascending channel reached it target. Target coincide with the upper rail of the descending channel, meaning that the price action retested the previous descending channel that it broke out of and can bounce back up. But everything...
Daily now closing firmly above the channel. Pump incoming.
After breaking out of its falling wedge, LTCBTC looks heading to 9000 mBTC, the target of the falling wedge.
Seems BTC is periodic when moving sideways. There are two periods to account for a shift in phase. If the price action follows previous periods, we are in for a dip to 9.5k then a pump to 12.5k.
As I predicted before using fractals the BTC to LTC ratio is dropping inside a channel. It's projected that it will reach 43.5 . Which means LTC will be around $500 when BTC reaches $20k. However, whatever price BTC and LTC reach, LTC will outperform BTC by many factors until early December. So switch your BTCs to LTCs.