Skip to main content

Litecoin to outperform Bitcoin over the next two months

The LTCBTC ratio has hit a support line on which it has always bounced higher since the end of April 2017 (if the flash crash by the end of May is taken out of consideration).

EDIT on 20 Aug 2017: The lower spike from 25 May is specific to the COINBASE exchange but is not present on the LTCXBT graph from KRAKEN exchange making trades on the latter platform more reliable (graph added here below for comparison).

The price ratio oscillates between the lower and upper boundaries of the slightly descending channel, that is possibly forming a consolidation flag in a longer term uptrend.

The time from peak to peak or trough to trough is rather constant at ca. 2 months, give or take 2 weeks, which means that the top of the channel should be reached again during the month of October.

Due to the high profit to risk ratio it is advisable to buy the LTCBTC as close as possible to the support line at 0.01 with a stop loss slightly below it and to target the upper channel boundary at 0.02 (for a profit/risk of ca. 10:1).


No Comments Yet

Leave a Reply

Your email address will not be published. Required fields are marked * logo

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: