The ratio is a pattern inside a pattern inside another pattern. The smallest pattern is a ring wedge (purple support and green resistance line). The green resistance line is part of rising channel that ratio broke down from. This rising wedge is within a symmetrical triangle (black support line and purple resistance line). The triangle in inside a descending channel (purple lines).
In my opinion, this should breakdown. First the ratio should drop down from the rising wedge, bounce inside the triangle and break down from triangle to meet descending channel support which is in confluence with symmetrical triangle measured move.
However, there is a chance that the ratio will break up and retest the midterm rising channel that it broke-down from.
The rising wedge is an ending diagonal within a three wave correctional structure, so there is a good chance the ratio will resume its downward decent.
The BTC to LTC ratio is just the inverse of LTCBTC, so a drop in the ratio is a pump in the BTC pair, which means LTC will outperforms BTC and probably upward.
In my opinion, this should breakdown. First the ratio should drop down from the rising wedge, bounce inside the triangle and break down from triangle to meet descending channel support which is in confluence with symmetrical triangle measured move.
However, there is a chance that the ratio will break up and retest the midterm rising channel that it broke-down from.
The rising wedge is an ending diagonal within a three wave correctional structure, so there is a good chance the ratio will resume its downward decent.
The BTC to LTC ratio is just the inverse of LTCBTC, so a drop in the ratio is a pump in the BTC pair, which means LTC will outperforms BTC and probably upward.
