LTC Bullish cycle is still yet to start

8 Mei 2018

Whilst cryptocurrencies look like they are recovering this week, using a wider chart we can gather a better picture on price. This analysis looks at LTC on the monthly time frame to gather a longer term view on price. Using fib retracement levels and the trend line it is clear that price is still yet to decrease to support level. Once price reaches this level, I expect it to increase and break through the trend line which then starts the next bullish cycle for the year where we see new highs. I believe all main cryptocurrencies will follow this pattern, a large decrease is still to come. But once that's over, we can expect new highs in the coming year for all coins.