Litecoin Halving End Game Comparison
Updated
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In this chart, similarities between August 25 2015 halving versus the current halving on August 5 2019 are compared.
Surprisingly both are similar as being in a narrow orange falling wedge. Also note that for the Litecoin Halving of August 25 2015, Bitcoin, Litecoin and all the ALTS had a multi-week downtrend that bottomed on the day of the Litecoin halving (back then Litecoin hit $2.5 and BTC hit $190). If this plays out again, then we may still be in a downtrend and Bitcoin would bottom on August 5, 2019 at $8500-7,600 and Litecoin $58-51 roughly which would all be a good buy long-term at the 78.6% Fib
Hence, at the moment I suggest and hope most of you sold at the top of the wedge today just in case at $99-105 that was hit today and are waiting for the pull back or at least to see what Bitcoin will do tomorrow (being hold $10,300-9,770 = bullish or go to $9,500-9,300 = bearish)
In this chart, similarities between August 25 2015 halving versus the current halving on August 5 2019 are compared.
Surprisingly both are similar as being in a narrow orange falling wedge. Also note that for the Litecoin Halving of August 25 2015, Bitcoin, Litecoin and all the ALTS had a multi-week downtrend that bottomed on the day of the Litecoin halving (back then Litecoin hit $2.5 and BTC hit $190). If this plays out again, then we may still be in a downtrend and Bitcoin would bottom on August 5, 2019 at $8500-7,600 and Litecoin $58-51 roughly which would all be a good buy long-term at the 78.6% Fib
Hence, at the moment I suggest and hope most of you sold at the top of the wedge today just in case at $99-105 that was hit today and are waiting for the pull back or at least to see what Bitcoin will do tomorrow (being hold $10,300-9,770 = bullish or go to $9,500-9,300 = bearish)
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Note
Note
Still within the falling wedge and on track as expected towards further downside to $58-51. The Bitcoin break down this morning is confirming this trade setup as well. You should be holding a short on LTCUSD.Note
Still within the wedge and under the $98-100 resistance. Not convinced that we will see a halving pump just yet, more likely a sell the news eventNote
A wick to $107 was all it got for the halving then back within the falling wedge. Very likely to see some slow bleed in the incoming days or weeks on LTC. I would stay away from ALTS as well and focus on Bitcoin trading mainly.Note
Time to update this idea which played out nicely albeit after such a long long wait and patience. LTCUSDT at the moment hit $66 and is nearing my revised bottom target at $61-58 near the bottom bull neckline. A wick lower is possible around $54-51 near the 78.6% Fib but I am not holding my breath on that.
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