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...
If support is broken it's a significant drop. However I am biased for a bounce to the upper resistance of the channel.
Oscillators bottomed out, getting close to pierce ichimoku cloud. Target 7828 mBTC.
RSI also in a channel and stoch RSI oversold. Massive bullish crab will play out now?
11.2k will be defended by the bears and price will drop back down to the green support as predicted in previous idea. I am not sure if the head and shoulders will play out and we will have a major dump.
BTC is reaching the neckline of a major head and shoulders formation (see idea below). However it is in a falling wedge. I estimate that price will fall within the wedge until next support were it can either breakout of the wedge or break the H&S neckline and dump to theoretically 5.5K. I tend to favor not a straight path down because I believe that BTC will...
More upward momentum.
Based on the BTC to LTC ratio we can note that everytime it reached 140, it reversed and dropped to 50. A drop in the BTC to LTC ratio means that LTC is outperforming BTC. The periods in which LTC outperformed BTC in the past were on average 114 days long. So from now till the beginning of December it's better to be in LTC, if history repeats itself. We note...
I noticed a falling wedge formation which LTCBTC broke out sideways. Is there hope for a recovery? My previous idea is that LTCBTC will fall below 7000 sats based on the trendline and harmonics.
I estimated that the bottom was at 6600-6700 but this wedge breakout means that we bottomed at 7000 and are heading up.
BTC RSI following a sine wave and we are past the crest heading down. Head and Shoulder forming with neckline at 11330.
The whole pattern almost got invalidated after price bounced of support . Price seems to be heading down to test support again.
LTCBTC loves to fall, and bottom has been called for months now, only to drop further. Have we reached the end? If so an Eve and Adam double bottom is in play. My cup and handle idea was obviously negated in the recent drop.
Nothing holding it up. target of 6525 produces a perfect bullish butterfly harmonic.
The pattern from July 2017 leading to December 2018 ATH is uncannily similar to recent BTC/LTC ratio pattern. Does that mean we will have an ATH for BTC and LTC soon?
The CME gap is almost filled, the targets for the falling wedge (grey) and the adam & eve double bottom (blue lines) have been reached. Bearish Gartley harmonic has completed formation (yellow), indicating a reversal. RSI is oversold. Major resistance at 12k (black line) about to be reached. If 12K is not breached then a drop is most certain to fill the lower CME gap.
Although today's dump puts a damper on enthusiasm, there are some bullish indicators that give some hope. The price action hit the support of an longterm ascending triangle (blue), hopefully it will not break down from this triangle. The price action formed a bullish bat pattern, which give credence that the price will reverse and test the top of the triangle...