Litecoin-Crypto Technical Analysis if Bitcoin resets to 5k.
If Bitcoin is resetting its overall trend and goes to sub or around 5000usd, i was checking what would happen to altcoins?
Ultimately Bitcoin rules the overall criptocurrency not compulsory though, i took Litecoin as good example
since it is one of the oldest blockchain and its chart pattern looks quiet simple and good.
This doesn't mean all the altcoins perform same way, but may be few altcoins outperform Bitcoin.
This Analysis is only based on "If Bitcoin resets its trend to 5k".
(Based on this scenario Litecoin may go to or around 180usd and back to sub or around 5 dollars where its maximum volume exists.
according to double top pattern the length of breakout to top and the same length to bottom, as in the rectangle box.)
Or
There is a possibility that if Litecoin maintains that blue parallel channel it may also go in the upward direction (green arrow line in the Double Top pattern example).
Ultimately Bitcoin rules the overall criptocurrency not compulsory though, i took Litecoin as good example
since it is one of the oldest blockchain and its chart pattern looks quiet simple and good.
This doesn't mean all the altcoins perform same way, but may be few altcoins outperform Bitcoin.
This Analysis is only based on "If Bitcoin resets its trend to 5k".
(Based on this scenario Litecoin may go to or around 180usd and back to sub or around 5 dollars where its maximum volume exists.
according to double top pattern the length of breakout to top and the same length to bottom, as in the rectangle box.)
Or
There is a possibility that if Litecoin maintains that blue parallel channel it may also go in the upward direction (green arrow line in the Double Top pattern example).
