LTC-BTC
LTC: Get ready for the halving spikeThe halving spike historically has happened either roughly 30 days before or 30 days after the halving event. Many consider the recent run-up to $144 as being the halving spike. This is far from the truth, the recent run up was due to BTC's astronomical rise. Halving price spike has not been factored in yet.
Where is the proof? The fractal shows an upcoming spike, bullish divergence on the RSI and bottoming of the RSI and the fact that we are at the bottom of an upward channel. Current price action in a falling wedge.
SHORT LTCBTC set to drop to 7100 mBTCIt fell out of a rising wedge and RSI approaching support which most likely it will break, unless it bounces off the RSI support. LTCBTC will also drop under the ichimoku cloud which is bearish and might test the support of the downward blue line. Unless it bounces at the bottom of the cloud.
A drop in LTCBTC usually means a rise in BTC .
BTC/LTC ratio double top, LTC will outperform BTC till DecemberToday 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 April 1st BTC's pump. That second period lasted 115 days and bottomed again at 55.
Now apparently we are entering a third period of LTC renaissance. If it follows the course of other periods will last 114 days approximately into December.
I find it uncanny the resemblance of the current LTC/BTC pattern to that at the 2018 BTC ATH, as can be seen with the purple fractal.
Regardless of resemblance of patterns, every time the ratio reach 141 it drops to 55. And a double top reinforces this change in direction.
It is arguably a good idea now to switch one's BTCs to LTCs, and take advantage of LTC's performance.
LTCU19 Litcoin is forming a bullish pattern!
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Good Morning Traders!
Litecoin LTCU19 is forming an ascending triangle.
We saw this bullish pattern over and over during the run to $13.900 for Bitcoin.
Now we are seeing it on Litecoin.
Our Target is 0.012 for LTCU19
Excellent Risk:Reward.
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