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.

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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??

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

Litecoin (LTC/BTC)

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Seasonal Similarities Abound

Will LTC drift lower into the holiday season?

There has been a lot of seasonal similarities over the past 3 years. A repeat of the last 2 years has LTCBTC chopping lower towards a low in the holiday season. It suggests longs will be rewarded with at least a relief rally.

Invalidation of the idea would trigger conditional orders at the 2 blue horizontal lines. Buying with momentum can profitable and great cost opportunity to not waste your time.

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