Failed to breakout of the descending channel after breaking out of the falling wedge. It is possible price will retest the falling wedge. On the USD pair, LTCBTC broke down from a rising widening wedge with a measured move of $64. Currently I see price bouncing around the range, and breaking down in the near future, touching bottom.
Last January I outlined a path for LTCBTC and called for a bottom at 0.023-0.035, after which there will be a major bullrun, that I projected the timing with the help of a special gann fann, this idea still holds. The gann fann I designed in June 2020. All of the ideas are listed below and I suggest that they be reviewed.
If you are disheartned by the drop, you shouldn't. This is the true nature of Crypto, it is volatile and volatility is money if you are prepared. Early this year I warned that LTC can retrace, and got very bad feedback from people that think price action is "up only". Price action is up and down. There will be a bullrun for LTC, it will not die, although personally I think it is a clone of BTC that has not been updated and can be replaced in the future, but it has its own network that the successful meme coin Doge uses and it has enough liquidity and quick transaction relative to BTC for LTC to be useful as currency. In fact, I believe in the next altrun LTC will outperform ETH from time to time, which warrants a flipping between ETH and LTC if you like such a play.
Last January I outlined a path for LTCBTC and called for a bottom at 0.023-0.035, after which there will be a major bullrun, that I projected the timing with the help of a special gann fann, this idea still holds. The gann fann I designed in June 2020. All of the ideas are listed below and I suggest that they be reviewed.
If you are disheartned by the drop, you shouldn't. This is the true nature of Crypto, it is volatile and volatility is money if you are prepared. Early this year I warned that LTC can retrace, and got very bad feedback from people that think price action is "up only". Price action is up and down. There will be a bullrun for LTC, it will not die, although personally I think it is a clone of BTC that has not been updated and can be replaced in the future, but it has its own network that the successful meme coin Doge uses and it has enough liquidity and quick transaction relative to BTC for LTC to be useful as currency. In fact, I believe in the next altrun LTC will outperform ETH from time to time, which warrants a flipping between ETH and LTC if you like such a play.
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