Btc-halving
Bitcoin - Path to the Halving!My predictions do quite well so it's worth your time to keep this chart around. Here's my last one from November. -->
As a basis for developing this chart, I used the historical price action of Bitcoin before the halving, in conjunction with fundamental analysis of things like the growth in wallets, Hodl %, hash-rate, difficulty, new code updates upcoming. As well as things like retail growth through in GBTC (Grayscale Bitcoin Trust Co), which had a year so good in 2019 that they brought in more money than 2013 to 2018 combined. I'm looking at all of those things and a whole lot more.
My plan is to take 10% profits at each target in order to lock in some gains and have cash for dip buying.
Thanks for taking the time to get this far... If you like this content, please give it a like and I promise to put more time into future work.
Appreciate constructive feedback so don't hesitate to ask a question. Have a GOOD one!
MAJOR TREND IDENTIFICATION- ABCD Pattern w/ Support & ResistanceTo add to the major ABCD pattern noted in my previous posts, I've added support and resistant zones. I won't be concerned so long as the price stays within these support and resistance zones.
I've also added a minor resistance zone, the price can be influenced by so many different factors that minor breaks in support and resistance is nothing new. Which is also why I prefer to work in zones. If I were to use lines, psychologically, the lines are more set-in-stone, which doesn't comply with the volatility of the price. Support and resistance shouldn't be viewed as a set number, or a set line but rather an area/zone.
The minor break of the channel we've seen in the past few hours is not a breakout, as volume doesn't support it. There isn't enough bullish volume.
I've added a resistance zone on top of the channel, as a secondary resistance. Which I should have done earlier due to the fact that the wicks of past candles have mostly landed within this zone.
I still believe this channel is just as strong, minor breaches are insignificant, I also still believe the price will still end up on point D of the ABCD pattern, and have added a target zone (in green)
--Obviously this is all my interpretation; this is my idea of what the price is doing and due to trading being abstract rather than set mathematical numbers, it's subjective.
LTC - Long - but NOT nowGolden cross? Check!
Major EMA's as support? Check!
Above cloud? Check!
True golden cross? Check!
FA catalyst! Check! Halving ;)
Positive sentiment? Check?
Bulls are in control! LTC will break out imo. However this is not the moment to go for a long position IMO.
Let it retrace to .236 or even better .368 fib level. Once LTC breaks out, other high caps will follow.
Always practice money management!
Remember the market made a promise to all of us. It will eventually reward patient people!
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And if you have other (opposite) ideas regarding LTC, please share. I see this as enrichment ;)
The two possible paths I see for LTC in the coming weeksI have to admit that LTC is more bullish than I thought. Apparently everyone is anticipating the halving rally, therefore it takes place even earlier than in 2015. Now, I see two paths, depending on the behavior of BTC in the coming weeks.
1. Green path: BTC doesnt dump soon, instead goes sideways, or even upwards retesting the logarithmic resistance.
In this case, I think LTC will reach the top before the BTC dump, then the BTC dump will lead to LTC crashing, and ending the rally.
It will then bounce together with BTC and stabilize, leading to a longer accumulation phase.
2. Red path: BTC starts dumping soon
In this case, I see the LTC rally abruptly ending, LTC will dump together with BTC. As LTCBTC ratio will drop also, I see the low of LTC then being quite low, possible double bottom, or even lower.
But when BTC rebounds, this will lead to an epic rebound in LTC, and it will go from the low, directly to the top of the LTC halving rally. The top here however would not be so high as in the
green case.
Either way, if one would be to catch the BTC dump and accordingly LTC dump, this could generate a really good trade, because the bounce would be epic either way, and an x3-5 would be possible.
Of course now you can say, but what about BTC not dumping any more at all?
I still think the likelihood for that scenario is low, but if it were to happen, then LTC would crash at some point simply due to being overbought on all timescales, in LTCUSD and in LTCBTC.
The result would be similar to the green curve, albeit maybe the accumulation area might be a bit higher pricewise.
So these are my thoughts, I am examining LTC carefully, and seeing what BTC does.