LTCBTC Cup and Handle aiming at 0.00600Litecoin (LTCUSD) has been greatly overperforming against Bitcoin (BTCUSD) since June 13 and last week even broke above the Lower Highs trend-line that has been holding since the April 2019 Highs.
This rally is coming after the completion of a technical Cup and Handle (C&H) pattern, after breaking above the 1D MA50 (blue trend-line) and having the 1D MA200 (orange trend-line) as Support since late August.
Technically, the pattern targets the 2.0 Fibonacci extension, which is just above 0.00600.
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Ltcbtcsignals
Litecoin - The Beast Will AwakenMuch like we discussed with XRP, Litecoin is also a sleeping giant that is about to awaken as alt season rages on. Litecoin has been forming this falling wedge for over 2 years and has reached a technical level that has served as support in the past. This is a good entry point before we see a potential breakout, and sure towards resistance levels above.
Remember, be patient, stay level-headed, non-biased, and ahead of the crowd.
LITECOIN The leading indicator for BITCOIN?I've published the very same pattern back in December 2018 when the previous Bear Market was at its lows and while everyone was panicking, called for a potential Bottom on Bitcoin and a Bull Run to follow.
Why? Simply because of the Litecoin break-out relative to BTC. As you see on this very simple chart, every time the LTCBTC pair breaks its Lower Highs trend-line (blue line), Bitcoin initiates a new Bull Run. Out of the past 4 occurences, only once failed to delivered a new BTC bull run, and rightly so as it happened at the top of Bitcoin's Bull Cycle (whoever bought near 20k was responsible for their actions).
Are you waiting for this break-out to take place on LTCBTC? Feel free to share your work and let me know in the comments section!
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LTCBTC Maybe ahead of a big sell-offNothing fancy here just a simple comparison of the recent price action with June 2016, when LTCBTC also nose dived after a failed Golden Cross on the 1D chart. The result then was a nearly -70% drop. If the pattern is repeated then the price can decline as low as 0.0025.