Why it may be the best time to accumulate Litecoin. Big LONG.
Updated
By analyzing the past and previous fractal patterns for Litecoin, we see plenty of similarities that could lead to a potential massive bull run for the price of LTC. First lets me explain that this is a long term pattern. Volatility will play out as always so do not invest based off of my personal opinions and do not take this as financial advice. Now that thats out of the way, lets go.
Lets first analyze the weekly RSI (18). I like using the 18 period average as opposed to the normal 14 people are used to. This allows for a cleaner chart in my opinion. Less noise and less distraction. It also eliminates some of those potential fake out scenarios by using a larger data set. You can see that once above the 45-46 level on wRSI (golden line) we have bullish consolidation happening within the green box during the last cycle. This time around we had similar moves with more volatility to both the upside and downside. In my opinion, this was due to more FOMO during the halving pump while the downside was caused by a black swan event via COVID-19. Nonetheless it's a similar pattern as far as price movement is concerned.
Now predicting future price is anyones guess, but lets use our past to help us create that potential future move. Lets take a look at our wRSI levels and overlay price movement at key points. We’ll use the same 45-46 level as a reference point. Once breaking out of accumulation and creating a blow off top (we’ll touch on this shortly), you can see that our wRSI stays above our 45-46 level as price action creates a descending triangle using that RSI level as a support (green triangles). Once we broke below that wRSI support, price action dumps below support and the line in the sand has been drawn. This will create our future price action resistance level. You’ll see this highlighted within the red circles.
Oddly enough there’s a pattern forming with Litecoin. It seems to love 4’s and 10x/100x multiples. (Roughly)
Let’s dig deeper. Our original ATH on Litecoin was around 55 bucks and 47 the following week. Not quite 4’s but close enough. Our main accumulation zone before the last ATH was right around 4 bucks. We hit an ATH on Coinbase @ $420 and $370 on most other exchanges. Let’s call that a 100x, again roughly. Now this is where it gets a little interesting. Before our price broke down due to lack of strength via our wRSI, our support was right around $9. The second time around it was right around $100 (roughly 10x).
So I think it’s pretty safe to say that we can use our wRSI(18) level of 45-46 as a major market swing point.
Now using what information we have, can we say that $1000(ish) can become the new $100? Can
4K(isn) become the new ATH? Something like that would look like this.
Does is happen? I personally don’t think so BUT, this is crypto. And then there’s this last little gem.
Litecoin has been following similar price targets as Bitcoin. Below you’ll see the comparison between LTCUSD and the BLX chart (Bitcoin Liq Index). Litecoin seems to be hitting nearly every past bitcoin target. A bitcoin low becomes a litecoin high with some higher upside potential due to increased volatility. Maybe its more possible than we think.
I’d also like to point out that Litecoin has basically created an ATL vs ETH as well as a potential low vs BTC. The sine line we have in place is also signaling a BTC ratio top somewhere around Q1 for Litecoin. This could create an opportunity for 2-4 rotations during 2021.
Thats all I have for now. Hope you’ve enjoyed this.
- Rob D Swinging Crypto
Lets first analyze the weekly RSI (18). I like using the 18 period average as opposed to the normal 14 people are used to. This allows for a cleaner chart in my opinion. Less noise and less distraction. It also eliminates some of those potential fake out scenarios by using a larger data set. You can see that once above the 45-46 level on wRSI (golden line) we have bullish consolidation happening within the green box during the last cycle. This time around we had similar moves with more volatility to both the upside and downside. In my opinion, this was due to more FOMO during the halving pump while the downside was caused by a black swan event via COVID-19. Nonetheless it's a similar pattern as far as price movement is concerned.
Now predicting future price is anyones guess, but lets use our past to help us create that potential future move. Lets take a look at our wRSI levels and overlay price movement at key points. We’ll use the same 45-46 level as a reference point. Once breaking out of accumulation and creating a blow off top (we’ll touch on this shortly), you can see that our wRSI stays above our 45-46 level as price action creates a descending triangle using that RSI level as a support (green triangles). Once we broke below that wRSI support, price action dumps below support and the line in the sand has been drawn. This will create our future price action resistance level. You’ll see this highlighted within the red circles.
Oddly enough there’s a pattern forming with Litecoin. It seems to love 4’s and 10x/100x multiples. (Roughly)
Let’s dig deeper. Our original ATH on Litecoin was around 55 bucks and 47 the following week. Not quite 4’s but close enough. Our main accumulation zone before the last ATH was right around 4 bucks. We hit an ATH on Coinbase @ $420 and $370 on most other exchanges. Let’s call that a 100x, again roughly. Now this is where it gets a little interesting. Before our price broke down due to lack of strength via our wRSI, our support was right around $9. The second time around it was right around $100 (roughly 10x).
So I think it’s pretty safe to say that we can use our wRSI(18) level of 45-46 as a major market swing point.
Now using what information we have, can we say that $1000(ish) can become the new $100? Can
4K(isn) become the new ATH? Something like that would look like this.Does is happen? I personally don’t think so BUT, this is crypto. And then there’s this last little gem.
Litecoin has been following similar price targets as Bitcoin. Below you’ll see the comparison between LTCUSD and the BLX chart (Bitcoin Liq Index). Litecoin seems to be hitting nearly every past bitcoin target. A bitcoin low becomes a litecoin high with some higher upside potential due to increased volatility. Maybe its more possible than we think.
I’d also like to point out that Litecoin has basically created an ATL vs ETH as well as a potential low vs BTC. The sine line we have in place is also signaling a BTC ratio top somewhere around Q1 for Litecoin. This could create an opportunity for 2-4 rotations during 2021.
Thats all I have for now. Hope you’ve enjoyed this.
- Rob D Swinging Crypto
Comment
We called for a dump a couple days back via social media. We got exactly that. This is still playing out perfectly. It's the final countdown. Look for Litecoin to range here going into 2021.Comment
Time could be running out for Litecoin accumulation. Keep in mind none of this is financial advice and/or a real projection of price movement. This is a simulation of what would happen IF MW provided the type of boost SegWit did. Also accumulation timeframes are similar in this little price pockets.
Trade and invest safely
-Rob D Swinging Crypto
Comment
Further validation for the 100x/10x theory.See how the 200wEMA from the past cycle and the 200wEMA for this cycle are right around 10x from each other. Also note that bounce off the neutral territory of the weekly RSI (18)
Comment
updating with 49 month 4 year cycle timing. (Shout out to CryptoSurf)and a potential top
Comment
Our last Litecoin update was just about 6 weeks ago. Since then we’ve seen two really nice monthly candles unfold, our monthly RSI broke over the key level of 60, our B Bands begin to stretch downward and our price is starting to ride the upper b band. With MWEB (Mimble Wimble Extension Blocks) code being merged in early Q1 of 2021, I fully expect Litecoin to give us a nice boost in price heading into the Spring of 21. 
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