LTCUSD extended bear scenario

Updated

Although I feel certain that LTC's second cycle is in fact an echo of BTC's second cycle, I'm not at all sure of the duration of the coming bear market. It may be that it is much shorter in length, however I still expect sub 100 USD LTC prices.

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Make of it what you will, this is not a prediction.

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The BTC curve above has been really compressed, that's why I switched from candlesticks to line view. I think this correction will be shorter than previous corrections > 80%. Looking at May or June right now, but we may not get the volatility we had in the past. That means we may descend more gently without large price drops: for LTC this means bottom somewhere around 70 dollars. There should be an accumulation phase at the bottom, couple months? This overlay suggests reversal in Aug.

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Not given up on this idea yet. I'v moved it again for best overall fit ignoring high and low spikes on both curves.

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To me the 100 and 50 MAs are indicating downward momentum. The 200 will keep LTC contained under the bear cloud and the 500 will provide the critical support. This is where we could consolidate before a reversal.

There is also a possible death cross looming this week.

RealMcafee

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