With LTC having a circulation that's 4x bitcoins circulation, it seems LTC is following bitcoin in market cap by one bullrun.
This means that when we compare the prices, during bullruns Litecoin will reach BTC/4 high from the previous bull run.
2017 bullrun BTC reached a high of ~20k usd, depending on the exchange. If history repeats itself that would mean LTC...
On monthly log chart we have always broken below the rising trend line and formed a new, less steep one, without ever breaking the previous again. This is what the future could look like.
Bitcoin giving us a perfect setup for inverted head&shoulders with just the perfect timing regarding the upcoming ETF decision. Now retracement to 6.8-7.2k area before we continue the rally up.
Tomorrow bitcoin needs to make a decision. Falling wedge target around 9.3-9.5k. Big resistance at ~9k due to EMAs from multiple timeframes.
Going down I'm expecting a double bottom, but we could reach the golden pocket of the bullrun from 6.5k, at 7650-7780
We may have a inverted h&s forming. If you take a parallel line from the neckline, the bottom of the right shoulder should be around 8180. This would be exactly the same as 50% fib retracement.
Another possibility is that we retrace to 61,8% golden pocket and that forms the right shoulder.
If this pattern forms, the target price after breaking the neckline would...
We can see a bull flag (black lines) is getting pretty tight in conjugation with a longer term rising trendline (blue line). Let's hope we see enough volume to break through the flag and then form the other shoulder for inverted h&s. After that we need to break through the thin purple downtrend line.
If we break under the blue line there's still the possibility to...
