We've been stuck under a local ceiling of 0.02 for almost a year. Ranging sideways, just hopping up and down the levels. But now that the ratio has definitively popped above that ceiling, the obvious question is, "how high can this go?"
Most exchanges open today only have data going back to the highest peaks of 0.033, so that's an obvious resistance level. I would gladly take profits there. But for the old-timers around here, who remember the days of trading LTC on BTC-E (the true home of the chikuns), back in 2013 we hit a peak of 0.05
Now think about all that's happened since the 2013 bubble. All these other alts have hit fresh ATH's, and Litecoin is... just getting started.
So yes, my second sell target is 0.05, but we might have all-new highs this year -- or we might just go back into a hibernation slump like we've done in Litecoin cycle after cycle after cycle.
This is my dusty old historical LTC/BTC chart from BTC-e, which is no more the glorious chikun roost it once was. On this pitchfork, it's not hard to see how new highs could reach the 10% mark for the first time. Would end up right about touching the median...
交易進行
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multiple descending wedges as we consolidate near 0.02, possible paths to target in 0.033 zone. expecting more drama when price comes up against the orange trendlines
交易進行
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next leg underway. And no, I'm not saying we *will* reach 0.05 in this series, just that I'm more than happy to sell at 0.033 -- and if it pulls back and goes past, my next sell zone is 0.05. That's what multiple targets are for, folks :P
@milanjelic, you are the TradingView equivalent of an evangelistic lamprey.... and honestly I'd appreciate it if you didn't spam my posts with your personal crusade or your garish billboard charts that are simply a ploy to suck some attention from those who happen to follow me. Go publish your own charts and shout at people over there...
espenespen
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@ronfkingswanson, TOUCHE!!! Thank you for a very comprehensive, emotionless , motiveless TA. I personally disregard "Analysts" that bombard the post of others with their own motives.
jomaha
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@milanjelic, "Under these circumstances" Sound's like FUD has taken over you.
Samppple
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@milanjelic, Totally agree with you. There is a bull flag forming in BTC, ETH has a head and shoulder pattern, and even the shinning star LTC has a possible inverse cup and handle. Lots of other charts look possible bear patterns. Readers beware. best to be in cash till the market decides where to go. Bear markets are tough too trade! Hold your cash.
gnomed0
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Do you think this will happen when Bitcoin eventually comes back up and Litecoin comes back up even better, or will Litecoin hold its dollar value better as Bitcoin continues down? If it's more likely to happen as Bitcoin falls, will the moment when Bitcoin begins rising again have a major impact on the BTC/LTC price? I'd think it would. Litecoin would have used all its fuel to get up before Bitcoin, meaning that Bitcoin rising would only widen the dollar value gap.
macan007
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Any update, sir? Still hodling, but my faith needs some support=)
gnomed0
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Hope you're right about those prices. I got in at just under .02 and have been loving seeing the first currency I really started paying attention to (I'm sure many people also saw the Korean pump and dumps back in Autumn 2017) grow well. I had no clear exit in mind and was thinking about a .026 ask for overnight but you brought some important history to my attention. Thank you also for linking pitchfork in your idea, didn't realize there was a word for the silly lines I'd been trying to figure out how to draw on my own.
Ron, not only that you are aiming for previous all time high.
You are brave enough to aim for a new price record.
Under these circumstancies?
So you are still presuming that Bitcoin is bullish regardless you failed last 5 out 5 prediction about Bitcoin growth?
This is nothing but artificial price of blue guys.
How else would you explain that something grows on the half of downtrend with RSI continual dropping ever since?
Use you reason Ron.
As trying to push 9500 level Bitcoin will end up falling through meltdown and week 8000 level and heavily test main support?
Which Litecoin price will be in conditions where Bitcoin is worth 5,5k?
Something like 0.024 multyplied with current Bitcoin price. So that would be 0.024x5500=132$ (comparing to existing 226$) in the moment of writting.
So we are playing technical Litecoin to Bitcoin comparism regardless how much $$$ is worth.
People are investing real money which will deflate, while Litecoin will regain value over Bitcoin, but still it will be worth something like 130$.
That is 40% loss comparing to existing price.
Use your reason.
There is a moral obligation to people who listen your advices, because they are the one spending cash, not you.
Regards