"The curious case of #Litecoin"
$LTC/BTC
The picture below compares the LTCBTC-pair with the price chart of #BTC
The yellow vertical lines indicate the cycle tops, while the blue lines mark the "pre-parabolic tops" for Bitcoin as well as the multi-year lows for $LTC/BTC
We see the red boxes in the Litecoin chart are pretty much comparable between the past cycle and this one.
What appears to be “slightly off”, is the price action in the green boxes.
We saw a 120% move upwards, but nothing compared to the previous cycle.
Instead, price kept “trapped” inside the triangle, pushing it down to touch the multi-year low again as we speak.
It has to be noted that arguably, compared to the previous cycle, Bitcoin hasn’t fully started it’s parabolic move yet. It might have to break it’s ATH first.
Looking at some important indicators for $LTC/BTC, we can see:
- Increase in volume
- Bullish divergence on the RSI
- MACD being “squeezed”
All in favor for some major move upwards?
Now let's compare with Litecoin's "brother", #Dogecoin.
It's hard to not see the similarities.
At least during previous cycle.
This cycle we see Doge breaking out of its descending triangle much sooner, BUT, only after it touched its multi-year low for the 3rd time
The question now is:
are the stars aligning for a breakout for $LTC?
Will it break out of its descending triangle once #Bitcoin breaks its ATH?
How high can it go?
I think we will soon find out!

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