A crypto strategist who has earned the “Master Seller” heinous on the digital asset commerce Bybit thinks Litecoin (LTC) is gearing up for a abundant burst to the upside.
Pseudonymous analyst Bluntz tells his 315,900 followers on the social media platform X that appears to be like bullish against the US greenback and Bitcoin (BTC).
In line with the trader, LTC appears to be like to agree with performed an ABC corrective wave against the US greenback while flashing a bullish swing failure pattern (SFP) on its Bitcoin pair.
Bluntz practices the Elliott Wave notion, which states that a bullish asset tends to gape a fresh five-wave rally after ending an ABC correction. Meanwhile, a bullish SFP is a reversal tag indicating that sellers tried to push the cost of an asset down however solid demand pushed prices better.
Says Bluntz,
“LTC of all things is trading love the market is conscious of an ETF (commerce-traded fund) is imminent, very solid against USD pair and a weekly SFP on the BTC pair.
I haven’t considered something that appears to be like as clearly bullish as this in some time.”
the trader’s chart, he appears to be like to foretell that Litecoin will shatter resistance at $147, retest it as enhance and rally to $180 – a stage closing considered right thru the 2021 bull market.
Bluntz will not be any longer the excellent trader who is bullish on Litecoin. In December, extinct trader Peter Brandt urged his 777,300 followers on the social media platform X that Litecoin “has the aptitude to change into but another principal chart” after LTC surged above $100.
At time of writing, Litecoin is trading for $119.60.
Generated Image: Midjourney
