Litecoin: Le Rock 2.0

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A Pattern on Repeat

The chart speaks for itself, LTCBTC looks horrible if the pattern continues. The BTCUSD all time highs created a massive bear market in 2014 & 2018. In 2015 & 2019 LTC rallied on halving hype. In both cases price peaked well in advance, block halving was about 50% less price as the pre-halving rally, and then continued to decline. After both declines price then popped into a fakeout rally that ended up pushing further to the downside.

When Could it Break The Repetition?

The next sideways motion will create a market pivot point. Another breakdown will likely create the same pattern & measured move as before. The dominant bots/algos/market makers pushing the market have not been fine tuning the chart that is being painted. Until it invalidates itself it’s easy to assume the same results will continue to be duplicated.

Disclaimer

LITECOIN (LTC/BTC)

LTC/BTC 1W

Litecoin is at a massive market pivot

The SCMR system noted on the chart has now hit 6 out of 6 times. LTC is now in a 6th bull market…or maybe it ended??? Let’s take a look at the most probable options based on history and market models. Why are we even speculating you ask? Because this current rally has echos of the smallest previous rally of the signal noted above.

Bulls

Bull bias is dip buying the current uptrend channel. Their narrative is strong based on the 4 of 5 previous bull markets that produced greater than 150% gains, it fell just short of 50% this time. They’ll likely be buyer until a red candle prints.

A general bullish market bias will likely remain strong even if the market moves like the black line on the far right which creates an obvious range trade.

Bears

Bearish traders see that the small rally after the last halving rolled off and that price sank very low. The orange resistance line and capped by the red hammer is the Bull/Bear price pivot for now. IF the price does follow the last halving dump fractal perfectly then the low should come in December 2020, just in time for the seasonal altcoin cycle. At least the worst case has an upside right?….right??

Disclaimer

SCMR Chart powered by the Analysis Suite found at https://www.spydercrusher.com/

Litecoin

Litecoin Chart from 12-18-2018

Not sure what to say about Litecoin other than the bleeding obvious.

  • Lots of similarities in the downwards channel post all time highs. They are relentless in their resistance to upside movements.
  • All buys during accelerated selling events, aka when price goes below support, have turned into a profitable trades.
  • A year and a bit of downtrend is market by a halving event in both cases.

Will history repeat? It usually does in crypto, but if Litecoin does not go up in the Spring of 2019 towards the Summer halving event then that could be viewed as a bad sign for Bitcoin’s next halving.

If history does repeat then buying LTCUSD in the $20’s and selling when the LTCBTC ratio nears 0.018 – 0.019 is a potential trade to keep an eye on.

Charts are powered by the SCMR Analysis Suite
Disclaimer

Litecoin (LTC): Another Fakeout?

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Click Chart to Enlarge

 

Litecoin (LTC): Another Fakeout?

 

A quick look at everyone’s favorite pet rock, Litecoin (LTC). The LTCBTC ratio is about to enter into overbought therefore it has some momentum on it’s side. Sadly there is a lot of similarities between the last fractal and if the bears are going to continue this action then we are currently located at the green flag on the chart.

 

The anatomy of this trade is to take seriously that the weekly chart is almost overbought. The lack of movement is concerning so there could be one last push to oversold before a bull market can begin. Rather than gambling it seems as if the safest trade is to average in once it starts to breakout of the horizontal resistance a pinch above 0.00652 ish.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a

Disclaimer: http://www.coinstreetnews.com/disclaimer/

LTC BTC

LTC/BTC

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Click Chart to Enlarge

LTC/BTC

The LTC/BTC ratio is recovering from a sharp sell off in much the same way as last time. The blue candle from yesterday is an unconfirmed reversal, and as you can see the price is above the daily cloud.

 

Since price is right up against resistance it is more safe to enter on a breakout above the trend and to add to the position if a higher low is confirmed after the breakout has a short term retrace.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 31 2016

Litecoin to Bitcoin Ratio

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Click Chart to Enlarge

LiteCoin to Bitcoin Ratio – LTC/BTC

The general sentiment is that LTC is ready to move up again. If so that means BTC should do well too, and based on yesterday’s chart that seems plausible. The LTC/BTC ratio is continuing to show signs of the last bull market. If so then the 3 green rectangles are the potential stopping points. They line up well with the the FIB extension too. Price is currently right up against the top of that wedge. Therefore there is no point on placing a long until the level is broken.

 

Charts are powered by the SCMR Analysis Suite on Tradingview.com

May 26 2016

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