The Litecoin VS Bitcoin trend is changing.For years LTC has been bleeding against BTC. It looks like this trend could have finally ended, at least for a short term (possible few months). Very similar to Ethereum vs Bitcoin the chart of LTC silently has changed the trend and is screaming buy. LTC will start to rise in value against BTC and is a very good trade to gain more bitcoin over a fairly short period of time.
Lets take a look at the charts.
On the left its the 2 week chart of LTC/BTC
The price action seems to have found a bottom along with a lot of indicators. Top indicator is the trusty RSI, with a bottoming out and strength has made a significant move up.
The middle indicator is the RCI3 lines which has just made 2 important crosses with the red and blue lines quietly gaining strength and momentum.
On the bottom is the BBWP. The main thick line has turned blue, and historically blue is the best buy area for this indicator.
On the right is the monthly chart with 3 indicators respectively bellow.
The first indicator is the RCI3lines for second time. We can see for the last many months it has been flatlining but recently the red line has sliced through the GREEN and is trying to cut through the BLUE (possibly January).
The Stochastic RSI is showing momentum is coming into this trade, however it has not confirmed yet. The red line would have to cross the 20 level like the blue line for it be official.
On the very bottom is the ADX and DI. The GREEN line has made an all important cross above the red line which shows a change in the trend. The purple line shows the strength in this trend. The strength a the moment is not strong, however we can see that it also has changed it's direction and looking to start climbing as the move gets stronger.
The first major target (take profits) for this trade would be at the 5000 sat level. getting above that could lead anywhere from 8000 to 15000 that has a lot of time to play out and still remains to be seen
Thank you for checking my chart. Please like and share with friends.
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