Full Litecoin vs Bitcoin Analysis (LTCBTC #2)

2021년 10월 16일

This is an interesting one...

Here we can see that the TOP altcoins have their own cycles/charts.

This is LTCBTC and this one is completely different from most other ALTBTC pairs.

This week, LTCBTC hit a new All-Time Low, going lower than the low hit back in March 2017.
This low was set at 0.00300000 and recently we hit 0.00293440 on a wick.

Now, this is tricky here as this can be read in multiple ways and how the market behaves also varies depending on what you are looking for.

ATLs are good, for us bulls.

When you hit bottom, the only place left to go is up...
But, we can't be sure that this is the bottom as prices can continue to drop. That's the tricky part.

We have multiple bullish signals as in the hidden bullish divergence with the MACD and RSI.

The RSI is also strong above 40 weekly.
You don't get a strong RSI when hitting new lows, telling us that things can change soon.

The next one is MA200 trending down.
Prices tend to gravitate towards this line.
As the MA200 line indicators trend down, prices can reverse and start to trend up; this is an original signal.

Peak price was hit February 2018 which means 3.6 years of a bear market for this pair... This is also long enough.

Conclusion

We go by the charts and this chart is bearish.

I pointed out the potential for change because we trade on the bullish side but the reality is that prices can keep going lower.

If the current support breaks, which is the new and old All-Time Low, I've marked the final support.
After this level is hit, we are very likely to move back up.

Things can change sooner though and we see Litecoin vs Bitcoin turn.

The new and last ATL was hit only with a wick so far... This can very easily be the bottom and then this pair can experience long-term growth.

This is not trading/financial advice.
For trading, we wait for the right signals and confirmation first... Keep this in mind.

Thanks again for your continued support.

Namaste.