LTC 1D Pattern "Cup with a handle" or continued growth?

١٣ أبريل ٢٠٢١

We would like to bring to your attention a global idea on the chart of the LTCUSDT pair
This instrument has a long history of trading and makes it possible to see how this pair has been trading since mid-2013.

In our opinion, the price of LTCUSDT is approaching the critical level of $285, in the area of ​​which one of two scenarios may begin to be realized:
1) It can be assumed that the global pattern Cup with a handle is forming on the chart. In this case, having reached $285, the price may start a rather deep downward correction.
A tasty buying area for an investment long can be considered $90-125
2) In case of breaking through $285 upwards, and consolidation from above this level, we can consider the scenario of a powerful rocket to the moon.
First, ATH breaks of $365-370, and then you can start the dream of growth to $785
Still, in 2014-2016, LTC was called silver, which will go right after the gold BTC, but then ETH appeared and something went wrong ...)

To the pluses of the 2nd scenario, you can add what we see on the LTCBTC chart
(It's a pity that the BTC-e exchange no longer exists, it had the longest trading history)

So, on the chart, there are weekly candles, and they have been moving downward in a clear channel for the last year. They were close to refresh the all-time low but received a strong upward momentum.
In case of a possible breakout upward and the continuation of the movement along a given vector, we can expect another +100%, because it is there that the first powerful liquid zone is located.

Well, let's see if "there is life in the old dog yet" named Litecoin
Will it be able to at least partially repeat the growth trajectory as in 2017, when LTCUSD made x100-x200 from $2-4 to $370 in a year.
_______________________________
Since 2016, we have been analyzing and trading the cryptocurrency market.
We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)