usa one hundred dollar banknotes among the binary code background, crypto currency and internet ... [+] technology banking concept. Fintech or digital currencies.
After long weeks of mostly just going sideways, Bitcoin and its cryptocurrency friends finally made a move and it was upward. Definitely upward. Each one enjoyed a different gain percentage, but its clear that when the buying comes in, all of the big name cryptos participate in the fun.
Bitcoins daily price chart looks like this now:
Bitcoin daily price chart, 8 3 20.
After making the move up from the mid-March bottom and rallying significantly into May, the crypto stayed within in a narrowing price range for about 3 months. Lower highs and higher lows shows up as a classic flag pattern.
When the price finally closed above the top of the range, it took off on decent volume. Bitcoin seems to have peaked for now with that red bearish engulfing to kick off the month of August. It might take a while to catch its breath.
Bitcoins weekly chart looks like this:
Bitcoin weekly price chart, 8 3 20.
You can see that the rally from March, as bullish as it seems, has thus far failed to take out the April, 2019 high up there as marked with the horizontal red dotted line. Its likely to find serious resistance at that level where buyers gave up previously and handed momentum back to the sellers.
The other red dotted line connecting the March low with the June/July sideways low shows the dramatically upward quality of the move. A close or 2 below this trend line might be cause for concern.
Ethereums daily price chart looks like this:
Ethereum daily price chart, 8 3 20.
This crypto broke out of the summertime sideways action with more energy than Bitcoin, as you can see by the strong movement upward into August. Theres the classic flag pattern again.
Among technical analysts this used to be known as building cause although its been some time since Ive heard that phrase. The idea is that as price compresses in that narrowing range, when it finally breaks out of it, the move can be substantial. That seems to be the case here.
Ethereums weekly looks like this:
Ethereum weekly price chart, 8 3 20.
If you look closely, theres lots here. The first thing is: Ethereum is back above the 2019 high. So this is unlike Bitcoin which has yet to take out that level. From this standpoint, it could be said that this is the stronger crypto.
On the other hand, note that it has a long, long way to go before it can even approach the April/May 2018 high. One other item: Ethereum has moved back above its Ichimoku cloud which had been downtrending since the beginning of 2018.
Litecoins daily price chart looks like this:
Litecoin daily price chart, 8 3 20.
Its the same basic pattern as the other 2: the range in price from April to July is a little wider but its still compression. The flag pattern breaks out upward during the last days of July and boom Litecoin is higher than the late April peak and on decent volume. Its next to impossible to buy at lows, but if you could have and you had picked it up at the March low of 30, you would now be sitting on a double.
Litecoins weekly chart looks like this:
Litecoin weekly price chart, 8 3 20.
Its moving upward again but its not as strong as the other 2 cryptos. You can see that, even with the breakout on the daily chart, Litecoin remains well below the earlier-in-the-year high. Note also its inability, so far, to close above a declining Ichimoku cloud.
Of these 3 well-known, big name cryptocurrencies, its clear that while all had good moves, Ethereum managed to show a better looking price chart. Who knows if this will continue? Past performance does not guarantee future results, as you may have heard.
I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.
See the original post here:
Bitcoin, Litecoin, Ethereum: When They Move, They All Move ...
- cryptocurrency Litecoin - Bitcoin Exchange Guide - January 25th, 2018 [January 25th, 2018]
- What Is Litecoin? Here's Everything You Need To Know ... - February 1st, 2018 [February 1st, 2018]
- Could Litecoin Be a Better Investment Than Bitcoin ... - February 15th, 2018 [February 15th, 2018]
- Criminals May Ditch Bitcoin for Litecoin, Dash, Study Says ... - February 15th, 2018 [February 15th, 2018]
- What's Wrong With Ethereum, Ripple, and Litecoin? -- The ... - March 23rd, 2018 [March 23rd, 2018]
- Mining Calculator Bitcoin, Ethereum, Litecoin, Dash and Monero - April 22nd, 2018 [April 22nd, 2018]
- Litecoin Courting TenX and Korbit - Just a Month after ... - April 22nd, 2018 [April 22nd, 2018]
- Litecoin vs Bitcoin: The 2 Most Popular Digital Coins Compared - April 24th, 2018 [April 24th, 2018]
- Litecoin Review - Charlie Lee's Open Source P2P LTC ... - April 24th, 2018 [April 24th, 2018]
- 3 Ways Litecoin (LTC) Will Grow In 2018 - April 24th, 2018 [April 24th, 2018]
- Litecoin - Litecoin Price Live, LTC Value, Mining, Wallet ... - May 7th, 2018 [May 7th, 2018]
- Litecoin price analysis: Balancing at the edge of a cliff ... - August 13th, 2018 [August 13th, 2018]
- What is Litecoin? A Basic Beginners Guide - Blockgeeks - September 18th, 2018 [September 18th, 2018]
- Litecoin Mining Pool (LTC) | Coinfoundry - December 3rd, 2018 [December 3rd, 2018]
- What is Litecoin? | A Beginner's Guide - December 3rd, 2018 [December 3rd, 2018]
- Litecoin Soars 36% As Investors Gain Confidence - December 7th, 2018 [December 7th, 2018]
- Litecoin Definition | Investopedia - December 7th, 2018 [December 7th, 2018]
- What Is Litecoin? What to Know in 2019 - TheStreet - December 22nd, 2018 [December 22nd, 2018]
- Crypto Market Extend Gains: Litecoin (LTC), Bitcoin Cash ... - December 22nd, 2018 [December 22nd, 2018]
- CMA warns against new coin offering - mediamaxnetwork.co.ke - January 4th, 2019 [January 4th, 2019]
- 3.17$ Get Free | Free Cloud Mining Site 2019 | Live ... - January 4th, 2019 [January 4th, 2019]
- Crypto Prices Fall; Ireland Toughens Law on Money Laundering - January 4th, 2019 [January 4th, 2019]
- Litecoin (LTC): Rejected at $40, this downtrend could last longer - January 18th, 2019 [January 18th, 2019]
- Litecoin | Litecoin Price | LTC | Litecoin Chart | Info ... - January 23rd, 2019 [January 23rd, 2019]
- Litecoin (LTC) Price, Chart, Info | CoinGecko - January 23rd, 2019 [January 23rd, 2019]
- Top 3 Litecoin Price Predictions for 2018 ~ InvestingPR.com - January 25th, 2019 [January 25th, 2019]
- Litecoin Climbs More Than 30% In A Matter Of Hours - February 11th, 2019 [February 11th, 2019]
- Litecoin - investopedia.com - February 12th, 2019 [February 12th, 2019]
- Ex-Googler Gives the World a Better Bitcoin | WIRED - February 12th, 2019 [February 12th, 2019]
- Litecoin Is Surging, Boosting Ethereum, Ripple's XRP And ... - February 12th, 2019 [February 12th, 2019]
- Litecoin r/litecoin - reddit - February 12th, 2019 [February 12th, 2019]
- Beginner's Guide | litecoinpool.org - April 16th, 2019 [April 16th, 2019]
- litecoinpool.org - April 16th, 2019 [April 16th, 2019]
- Litecoin Value | Litecoin Price | Litecoin Wallet ... - April 16th, 2019 [April 16th, 2019]
- What Is Litecoin? LTC News, Price and Charts - April 16th, 2019 [April 16th, 2019]
- Moon Litecoin - Free Litecoin Faucet - April 16th, 2019 [April 16th, 2019]
- Litecoin - Investopedia - April 16th, 2019 [April 16th, 2019]
- Litecoin (LTC) price: News & Live Chart - Trading Analysis ... - May 5th, 2019 [May 5th, 2019]
- Bitcoin Cash, Litecoin And Dogecoin Bulls Aim Higher ... - May 10th, 2019 [May 10th, 2019]
- Will Litecoin (LTC) Rally to $1,000 After August 2019 Halving? - May 10th, 2019 [May 10th, 2019]
- Litecoin (LTC) Price Analysis: Dips Remain Attractive To ... - May 10th, 2019 [May 10th, 2019]
- Litecoin (LTC) Price Analysis: Risk Of Additional Weakness ... - May 10th, 2019 [May 10th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 15/09/19 - FX Empire - September 19th, 2019 [September 19th, 2019]
- Litecoin could start its road to recovery if it breaks out of the parallel channel - AMBCrypto - September 19th, 2019 [September 19th, 2019]
- Litecoin Fractal Hints Bitcoin Price May Soon Tumble to $8,300 - Ethereum World News - September 19th, 2019 [September 19th, 2019]
- Litecoin could swing higher following the completion of ascending triangle pattern - AMBCrypto - September 19th, 2019 [September 19th, 2019]
- Litecoin Exhibits 4% Hike in the Intraday Trading - CryptoNewsZ - September 19th, 2019 [September 19th, 2019]
- Bitcoin, Ethereum and Litecoin Price Analysis and Prediction for September 12th 2019: BTC, ETH, and LTC - The Merkle Hash - September 19th, 2019 [September 19th, 2019]
- Litecoin Ready for Gains as Alts Turn Green - Price Analysis - CryptoGlobe - September 19th, 2019 [September 19th, 2019]
- Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin - American Wrap - 16 September - FXStreet - September 19th, 2019 [September 19th, 2019]
- InnfiRAT Malware Steals Litecoin And Bitcoin Wallet Information - BleepingComputer - September 19th, 2019 [September 19th, 2019]
- Litecoin Gears Up for A Rebound; Hovers Around $65 - CryptoNewsZ - September 19th, 2019 [September 19th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 13/09/19 - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Weiss Crypto Ratings Downgrades Litecoin & Cardano, Ups Monero - Cryptonews - September 19th, 2019 [September 19th, 2019]
- Cryptocurrencies price prediction: Bitcoin, Ethereum, Litecoin - American Wrap - 19 September - FXStreet - September 19th, 2019 [September 19th, 2019]
- Litecoin Foundation Selects Celsius Network as Its Preferred Interest-bearing Wallet - Business Wire - September 19th, 2019 [September 19th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 16/09/19 - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Crypto Market And Bitcoin Holding Support: BCH, Litecoin, EOS, XLM Analysis - newsBTC - September 19th, 2019 [September 19th, 2019]
- Bitcoin vs. Litecoin: BTC Price Trend Seems Disturbed; LTC Reflects Growth in the Price - CryptoNewsZ - September 19th, 2019 [September 19th, 2019]
- Litecoin price analysis: LTC/USD bullish frenzy is unstoppable - FXStreet - September 19th, 2019 [September 19th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 14/09/19 - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Bitcoin And Crypto Wallets Are Now Being Targeted By Malware - Forbes - September 19th, 2019 [September 19th, 2019]
- Litecoin price analysis: LTC/USD reclaims $70 support amid broad-based crypto recovery - FXStreet - September 19th, 2019 [September 19th, 2019]
- Litecoin Price Escalation Prepones the Price Rally; Uptrend Reflects Stability - CryptoNewsZ - September 19th, 2019 [September 19th, 2019]
- Litecoins price bounces back while Bitcoins price stays steady - Decrypt - September 19th, 2019 [September 19th, 2019]
- Bitcoin Flatlines As Ripples XRP, Ethereum, Litecoin And Bitcoin Cash Surge - Forbes - September 19th, 2019 [September 19th, 2019]
- Crypto Market Cap & Bitcoin Drop Sharply: BCH, Litecoin, ADA, TRX Analysis - newsBTC - September 19th, 2019 [September 19th, 2019]
- Bitcoin Cash ABC, Litecoin and Ripple Daily Analysis 19/09/19 - Yahoo Finance - September 19th, 2019 [September 19th, 2019]
- Litecoin will have succeeded when it doesnt need Charlie Lee [INTERVIEW] - CryptoSlate - September 19th, 2019 [September 19th, 2019]
- Litecoin Non-Profit to Hold Undisclosed Treasury Sum with Crypto Lender - CoinDesk - September 19th, 2019 [September 19th, 2019]
- Litecoin and Bitcoin wallets on iPhones older than and including iPhone X are insecure, says LTC developer - AMBCrypto - October 1st, 2019 [October 1st, 2019]
- Tether (USDT) Becomes Fourth Biggest Cryptocurrency, Trumping Bitcoin Cash (BCH) and Litecoin (LTC) - U.Today - October 1st, 2019 [October 1st, 2019]
- Litecoin Turns Surprisingly Bullish Due to These Five Factors - BeInCrypto - October 1st, 2019 [October 1st, 2019]
- Litecoin Gets Back To The Lower Border Of The Channel - Benzinga - October 1st, 2019 [October 1st, 2019]
- The Hard Week Thats Been Hitting Litecoin - Live Bitcoin News - October 1st, 2019 [October 1st, 2019]
- Litecoin Price Changed by 3.49 percent - ICO Brothers - October 1st, 2019 [October 1st, 2019]
- Litecoin looks to gain movement with potential inverted bart formation - AMBCrypto - October 26th, 2019 [October 26th, 2019]
- Litecoin set to breach ascending triangle as buying pressure rises - AMBCrypto - October 26th, 2019 [October 26th, 2019]
- A bearish technical analysis for Bitcoin, Ethereum, XRP and Litecoin; but what if bullish? - CryptoSlate - October 26th, 2019 [October 26th, 2019]
- You Can Now Pay with Bitcoin, Ethereum, or Litecoin on Amazon - U.Today - October 26th, 2019 [October 26th, 2019]