Looking at LTC heading into the upcoming week of April 20th - price currently at $42.50.
If bulls can climb their way to $48 in the next week or two, look for $45 to become the new consolidation level, and a leap to $54 sometime in May, likely prior to BTC halving, if it surges prior, with consolidation down after.
See my expectations for the BTC Halving Below, as the expected result for alts would be to mirror the king in their USD pairs, while losing in their BTC pairs. The good news regardless of the result is that BTC volatility often provides insights to the health of the alt market. When alts show resilience to BTC price action, its incredibly bullish for the alt pair, presenting the opportunity for yielding higher BTC returns.
- Consolidation down at any point needs to stay above $37. If that breaks, we're looking at a massive dump to sub $35
- Bull continuation looks probable, and $45 would be the only threat before we potentially climb as high as $48 by the beginning of May. this could likely only occur if BTC reclaimed $8k, unless LTCBTC shows massive returns, independent of BTC movement, which is a rare occurrence.
If bulls can climb their way to $48 in the next week or two, look for $45 to become the new consolidation level, and a leap to $54 sometime in May, likely prior to BTC halving, if it surges prior, with consolidation down after.
See my expectations for the BTC Halving Below, as the expected result for alts would be to mirror the king in their USD pairs, while losing in their BTC pairs. The good news regardless of the result is that BTC volatility often provides insights to the health of the alt market. When alts show resilience to BTC price action, its incredibly bullish for the alt pair, presenting the opportunity for yielding higher BTC returns.
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Eric Thies
