BTC to LTC ratio in a rising wedge, maybe Alts season soon
The BTC to LTC is in a rising wedge and might head to the lower range. I don t expect Alts rising for at least 2 weeks. There is no bottoming pattern in both BTC and Alts. A drop in the BTC to LTC ratio does not signify a rise in LTC just that LTC drops less in dumps and pumps harder than BTC.
But this idea contradicts my other idea on LTCBTC, the inverse BTC to lTC ratio. I argued that that it broke down for a rising channel and it can reach 5300mBTC because of a bullish shark harmonic forming. 5300 mBTC corresponds to 180 in the BTC to LTC ratio.
In the short term BTC to LTC ratio can rise to the top of the wedge to 168, corresponding to 5952 mBTC which would be the target of the channel breakdown in LTCBTC and therefore mitigating the contradiction in idea.
But this idea contradicts my other idea on LTCBTC, the inverse BTC to lTC ratio. I argued that that it broke down for a rising channel and it can reach 5300mBTC because of a bullish shark harmonic forming. 5300 mBTC corresponds to 180 in the BTC to LTC ratio.
In the short term BTC to LTC ratio can rise to the top of the wedge to 168, corresponding to 5952 mBTC which would be the target of the channel breakdown in LTCBTC and therefore mitigating the contradiction in idea.
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