Litecoin

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Litecoin Chart from 12-18-2018

Not sure what to say about Litecoin other than the bleeding obvious.

  • Lots of similarities in the downwards channel post all time highs. They are relentless in their resistance to upside movements.
  • All buys during accelerated selling events, aka when price goes below support, have turned into a profitable trades.
  • A year and a bit of downtrend is market by a halving event in both cases.

Will history repeat? It usually does in crypto, but if Litecoin does not go up in the Spring of 2019 towards the Summer halving event then that could be viewed as a bad sign for Bitcoin’s next halving.

If history does repeat then buying LTCUSD in the $20’s and selling when the LTCBTC ratio nears 0.018 – 0.019 is a potential trade to keep an eye on.

Charts are powered by the SCMR Analysis Suite
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