LTC Preparing For Another Wave Up?
In Areas of High Liquidity
I have plotted trend lines of high liquidity, micro and macro resistance. On the 1- Week chart we can see how these areas of liquidity have proven to be wave bottoms; wicks through this liquidity line are major clues. If they occur in areas of slightly lower lows, this strengthens the chances significantly.
~3 Hours Until Weekly Candle Close
We have a falling star through this significant liquidity line once again accompanied by RSI bullish divergence. This wick also marks a slightly lower low and suggests a ST (Secondary Test). We could presume that a wave up toward the upper liquidity line is most likely underway given these clues.
Possible Alternatives
If liquidity support fails, the lower micro support trend line would be the next target of retracement, and could potentially print a bullish pattern separation if the price action is descending.
This Publish Is Intended For Educational Purposes Only
Is this time for LTC to go to the moon ?
Very long horizontal range
Close to 10 years
I don't think that the market maker will wait ten years to let a currency drop to deep prices
Waiting all this time is for accumulation, and the targets are not close
We will reach the moon as soon as we break the accumulation range
And God knows best
Can LITECOIN replicate MONERO's rally??
Just some fun chart trivia but we can't deny the obvious. And that's that Litecoin (LTCUSD) has been printing an (almost) identical price action since 2017 with Monero (XMRUSD).
That's up until a little less than a year ago when the two started to diverge aggressively as XMR (orange trend-line) entered a massive rally that broke above its ATH Resistance of the past 2 Cycles and made a new All Time High (ATH), while LTC has been under Lower Highs. However it hasn't broken below its Bull Cycle consolidation, which also shared with XMR before the latter broke aggressive to the upside.
So what do you think? Can LTC follow XMR's lead and make an ATH or it will continue dropping into the new Bear Cycle?
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