LTC/BTC entering the thin upper atmosphere, ATH in view
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...
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...
Trade ist aktiv:
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
Trade ist aktiv:
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