LTC is BTC with 4x the supply, it was released 3 years 9 months after BTC. To make BTC/USD relative to LTC, BTC/USD must be divided by 4. Why? B/c if BTC had 4x the supply the price would be 1/4th. Now that price have been made relative; time has to be made relative, by drawing a simple trend line on BTC/4, the point at which LTC/USD breaks out can be determined. The best fit resistance line makes time relative to the price.
If you want to determine the price of LTC ~4 years into the future divide the current BTC price by 4. And if you want to determine the price of LTC currently go back 3 years 9 months on the BTC/4 to find out.
As you can see the 2017 top happened to be the BTC/4 top in 2013.
And currently LTC/USD is exactly where it needs to be.
5K is commeth, afterwards, it may just surprise everyone.
Kommentera
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market is checking for demand that is all, trend is still good
This is an awesome analysis of Litecoin in relation to BTC movement. This is really good work and great pattern recognition. Keep up the good work. Other Alt coins could play a factor in hands that would have held LTC, are now holding other coins. Can't wait until this plays out.