LTC still withing falling wedge despite yesterday's pump
Price was rejected by the wedge's resistance, confirming this wedge. Many have drawn a descending trend-line and consider LTC has broken that trendline but on this chart, LTC broke out of nothing and seems to be heading down to support at $41.
However this could be a retracement of wave 1 and the start of a new uptrend, reversing month of downtrend. So it is possible that LTC will break out of the wedge in the next pump.
BUT... it looks like BTC dominance will rise further with BTC rise and Alts will under perform. I envision LTC reaching $100 but BTC reaching 20K, at these levels the BTC to LTC ratio will be 200 and the lowest it was this month was 140, LTC will under perform BTC by a factor of 1.43,a far cry from Alts season over performing BTC by a factor of to 2 to 3x. It is just the opposite, its Alts winter.
However this could be a retracement of wave 1 and the start of a new uptrend, reversing month of downtrend. So it is possible that LTC will break out of the wedge in the next pump.
BUT... it looks like BTC dominance will rise further with BTC rise and Alts will under perform. I envision LTC reaching $100 but BTC reaching 20K, at these levels the BTC to LTC ratio will be 200 and the lowest it was this month was 140, LTC will under perform BTC by a factor of 1.43,a far cry from Alts season over performing BTC by a factor of to 2 to 3x. It is just the opposite, its Alts winter.
