Litecoin/Bitcoin (LTCBTC) cross breakout off multi-year lowsGoing back almost a decade the Support between Litecoin and Bitcoin BITFINEX:LTCBTC has held around 0.003. The cryptocurrency cross has come to rest on this level once again and as price action slows it begins to squeeze into a tight range. Price could shoot up off the support and break out of the range. I'll be looking for it to first hit the 50% Retracement if it does go bullish outside the range.
LTCBTC trade ideas
LTCBTC is inside a falling wedge 🦐LTCBTC is inside a falling wedge 🦐
IF the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
LTC targetsLTC is one of the altcoins that is a classic, well known but hasnt broken out yet. I think we will get a spectaculair end of the year rally withing crypto but especially the coins that havent broken ATH yet. Also LTC isnt really populair so the big hype crowd hasnt even jumped on this coin like with DOGE SHIB and CRO recently. So LTC is one of the best investments at the moment withing crypto for the coming months.
LTC/BTC Pairing Combined with historic LTC/USDThis is another long term trend to be bullish on, I found this to be a great example of why I think that LTC is on its way back to where it deserves to be. The LTC/BTC pairing is interesting to follow because the price of the USD seems to go up no matter what. The price of BTC does not need to go down for LTC to gain value and rise out of this 4-5 year long descending wedge. And if/when BTC goes up? LTC often follows right behind. I have highlighted what I believe to be most of the key resistances in regards to dominance levels. Blue lines are the final levels before seeking new territories on either side. Green is where it is at today. If the LTC/BTC pairing were to chug its way back to the upper limits and 1 BTC was worth $50,000 the corresponding price of LTC would be 1250. I am not saying BTC will drop down there (I actually wish it would so I can get more). With all this being said, it is not unreasonable to think that LTC has broken out of this wedge just in time for a Christmas run up to some big numbers. All in all, as I have mentioned in my previous post, only LTC and XRP have been able to remain in the top 15 without having reached and surpassed their previous all time highs. They both have a proven stable spot in the crypto sphere, its only a matter of time before the market realizes they aren't going anywhere.
Litecoin LTCBTC - Falling wedge + bullish divergence! (Weekly)- On the weekly scale we can spot a huge falling wedge - bullish pattern.
- RSI indicator is printing a bullish divergence.
- Profit target is 0.618 FIB retracement.
- Litecoin can explode anytime right now!
- For expected duration of the trade, probability, stop loss, profit target, entry price and risk to reward ratio (RRR) - please check my signature below ↓
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After LTC rally where do we come down to?LTC tested overhead, multi-year, linear resistance against bitcoin and the huge falling wedge pattern that has formed. Looks like this may be the mid-November correction like we had in 2017 (but it might not, never know for sure).
I don't think we'll see a 100% retracement like the last LTC pump and that's due to the bullish news of the token, but I do believe more profit taking is in order.
My look to re-accumulate is on 200 1H MA and 61.8% fib retracement where 1H RSI is near 30, somewhere around 0.00365 BTC. Totally guessing on this zone, could this be the last great buy opportunity for LTC before it breaks this 4 year old falling wedge and moons?.....