Litecoin Long Term Trendlines 2020 Edition
Lines to watch out for. This is an updated version of the idea from last year, for reference checkout links to related ideas below.
Litecoin has hit the bottom of the orange channel on the quarterly chart, and therefore a higher low has been created, very bullish.
A new yearly green candle has also begun.
Very bullish for both BTC and LTC.
There is a chance LTC can visit the new transparent green line if it can get above the blue and pink lines.
This year should be the set up before Litecoin can revisit the top of the orange channel next year (could do it sooner, this year or early Q1 2021), though ultimately when will be up to Bitcoin and the LTC/BTC ratio. Market Cap Dominance is set up to go back to 3%-4%, and LTC/BTC ratio is at optimal levels for historical pumpage. Both should rise, when Bitcoin decides; greater BTC/USD is greater LTC/USD is.
On the yearly scale the channel top between 2020-2022 yields between 3k-6k per LTC. I expect BTC to head to 70k-200k maybe 160-175k will be top, based off 0.025 ratio that makes LTCs 3k-6k evaluation possible. Litecoin should make 2x-5x BTC makes in USD at the market top. We'll see, time will tell.
Fundamentals for proof of work decentralized networks only get stronger, everyday Bitcoin and Litecoin continue to exist, the stronger they become. Supply and demand (adoption) are the only things that govern the value of these two.
Litecoin has hit the bottom of the orange channel on the quarterly chart, and therefore a higher low has been created, very bullish.
A new yearly green candle has also begun.
Very bullish for both BTC and LTC.
There is a chance LTC can visit the new transparent green line if it can get above the blue and pink lines.
This year should be the set up before Litecoin can revisit the top of the orange channel next year (could do it sooner, this year or early Q1 2021), though ultimately when will be up to Bitcoin and the LTC/BTC ratio. Market Cap Dominance is set up to go back to 3%-4%, and LTC/BTC ratio is at optimal levels for historical pumpage. Both should rise, when Bitcoin decides; greater BTC/USD is greater LTC/USD is.
On the yearly scale the channel top between 2020-2022 yields between 3k-6k per LTC. I expect BTC to head to 70k-200k maybe 160-175k will be top, based off 0.025 ratio that makes LTCs 3k-6k evaluation possible. Litecoin should make 2x-5x BTC makes in USD at the market top. We'll see, time will tell.
Fundamentals for proof of work decentralized networks only get stronger, everyday Bitcoin and Litecoin continue to exist, the stronger they become. Supply and demand (adoption) are the only things that govern the value of these two.
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