Monthly chart says we are going to ATH's within the next 3-7 months (July Inclusive) and ultimately it suggests some beyond wild price targets.
3d chart provides much more detail (The Baptism of Fire):
We will be going over it all in the coming months. Especially the XMR/BTC Ratio. I wanted to create a separate published idea to update on Monero so this is where I will be doing that (I created the chart about POW a few months back involving both Litecoin and Monero (can see Linked in Related Ideas). Updates on Litecoin will be under the Magic Juan'ed Idea. The two new darlings of the space : )
Stay Tuned th-ick-ity, th-ick-ity, th-at's all folks -the beatiest of all
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Small typo in the 3d chart, the Time calculations for waves B and C at the bottom both should say *x 0.618 (not x 1.618) ...good catch by mr. grepcatjuan
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There is a good question to be asked here about elliot wave, and an even better answer.
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XMR/BTC Ratio charts
Monthly: ...keep in mind this chart is both (informed by) and (helps inform) the subsequent 3d chart.
3d: ...still working on the efficacy/inverse efficacy labeling. Juan way to distinguish between the two would be have both e and i on the chart, and when inverse is in effect (lol pun intended) the order would be reversed: i-e. Another way (won-ky (Won-wei)) would be to keep the traditional order e-i from left to right but to flip the i upside down ((!) shown here).
@BKCY no I mean where is the target for chart ( A)
ltc-joe
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@BKCY, My first response is me being silly as the concept of a "target" within the context of markets is generally taken to mean a price at which some type of actionable behavior is supposed to take place (whether you are the one determining this estimation or the one inquiring). Let me be clear: I do not, nor have I ever, provided that type of information, as anyone who has been following me over the years could tell you.
Put differently: I do not provide financial advice. No, not because of some fear of hypothetical legal liability against a pseudonymous cartoon character on the interwebs, or more generally, the lack of merit regarding such a ridiculous notion in the year 2022, but because it would be detrimental to both myself and the inquirer. I provide sophisticated market analysis which is, beneficial to both myself, and the audience (the latter of which depends upon a presumed competency/requisite knowledge or at least the desire to eventually obtain such). Try to grasp the dynamic nature of markets, you might eventually find that to think in such narrow terms is arguably extremely limiting in terms of analyzing the market, further, implicitly only speaks to the contemplation of some sort of 'trade' or 'trading strategy' which is different conversation entirely, and again I do not do.
My assumption is by chart (A) you mean the target for the published chart, which from an ew perspective, is the same for both charts. Let me correct my error and use the word projection, or even projected target which removes the linguistic baggage...as I mentioned in the second chart (or chart (B)) an irregular failure would be followed by a 'powerful' impulse. Powerful (in EW) is determined on a relative basis usually in relation to the preceding impulse. At a minimum, that means the size of the preceding impulse (% wise) x 1.618. More optimistically you are talking about the size of the preceding impulse x 2.618 or even more.
Those are the numbers based upon a normal irregular failure, but I have reason to believe, using logical deduction, that this one is a special one (if I am right that would imply even more strength than previously mentioned). Anyway, if we were to get even an equally sized impulse, that would be near $100,000 per 1 xmr. Feel free to do the math on some of the more optimistic scenarios. To me, at current prices, spending time going deeper on those types of *projections is silly. More relevant questions might be what does that world look like, what is the xmr/btc ratio at, and how much will a 'dollar' effectively be worth?
Hope that helps.
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thanks for the chart! we may be having some turbulence on poloniex:ltcbtc/poloniex:xmrbtc chart in the coming months. litecoin has received a privacy upgrade, however i believe it may not compete against monero in the privacy field. don't have any technicalities at the moment to support this thesis pricewise, but think there will be times within next 5-8 months that will be good to trade monero for litecoin and vice versa. differently said, i doubt both litecoin and monero will gain profits against btc at the same time, but rather at different times. especially after all eyes around litecoin may be due to latest upgrade. also we should not exclude potential problems if found with mweb that will add to panic at some time, or possibly just fud. also wondering if we could expect exchanges delisting litecoin due to privacy features (some already announced this). finally if btc ever decides to implement mweb, this could be a great reason for governments and financial institutions to tighten checks where fiat to crypto or vice versa exchange is involved. past year, many european countries have received eu directives to forbid legal entities to exchange for people and trade with privacy coins such as monero, zcash etc. if btc gains this privacy upgrade some time in following years, governments could make legal entities to require documents upon any crypto exchange. at this time we could expect higher p2p trading and new p2p exchanges to allow people advertise and exchange without any 3rd parties. .. keep up the great quality content :)
small typo i believe you have when calculating ABC in the image, says 'C = A x 1.618' which gives incorrect numbers but rather 0.618? or C = A / 1.618?
will be analysing this pair in the following days
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@grepcat, that is an excellent, substantive comment. I think I have to drink it in a bit before giving a more detailed response.
Good catch on the typo, yes you are correct (just updated the description to point this out).
In short, my response to your comment would be that I agree there will likely be continued turbulence on that chart (that is a tough pair to read, i've been following it for a while). Purely from a charting perspective, it does look like ltc should outperform in the near term as your chart seems to implicitly suggest (well done). Yes, surely they will not both be simultaneously rallying against Bitcoin together, at all times. And there will be growth spurts. But those games are tough and can potentially distract juan from the larger picture at play, so personally I contemplate them but keep them at somewhat of a distance as whats most important to me is (ideally) predicting the major market turning points of Bitcoin, then alts, then alt ratios, then relative ratios sort of in that order. Focus too deep on intermittent swings on a relative ratio and u might just miss something big happening on Bitcoin trend wise, but I do admire your ambition and perhaps you are capable of juggling them all. I sort of just keep an eye on it in the background, but it is certainly interesting to contemplate.
The privacy dynamic between the two will certainly be a huge factor in the coming years, I just don't know enough to say conclusively it will effect one more positively or negatively than the other, not to mention the antagonism towards the promotion of privacy features by the slow to react beuaracratic(how to spell? juan does not know) class. There is also the potential to be considered that (at least on net, and in the long term) Litecoin's commitment to privacy actually acts to create a mutually beneficial synergistic type of (part greater than the whole) type of dynamic between the two, think Atomic Swaps type of tech. You did sort of mention that in terms of p2p trading. Which brings me to how it all fits into the market value of the two. While naturally they will not both be rising at all times together, and sure 'competitive' narratives could be promulgated around that, I think the truth is closer to the synergistic perspective. Regardless of if such an assesement is truly correct or not, my market thesis which is derived from TA and EW, would say that *both* are in fact slated to be the darlings of the crypto space for years to come. Short term swings aside, zooming out, to me, the more relevant story that is being told by the data here is that *both are going to strongly outperform Bitcoin. 'Fundamentally' while Litecoin may or may not relatively benefit from it's privacy additions it does have the halving coming up in a year, so there's that.
"also wondering if we could expect exchanges delisting litecoin due to privacy feature (some already announced this)." Out of curiousity, which already announced this? Would have thought th
ltc-joe
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@ltc-joe, if anything, they would treat it akin to zcash (some will let you deposit but prevent you from using it with shielding). But after all that does presume they have some semblence of common sense, perhaps a poor presumption. Anyway, you did it again mr grepcat, here I was thinking I would give a short response. Well done.
Binance Announces Suspension of Litecoin MWEB-based Transactions. Several exchanges are delisting Litecoin on their platforms, citing that the coin violates certain financial acts. Binance has also announced that LTC MWEB deposits and withdrawals will be suspended on their platform.13 Jun 2022
Assuming your quote is real... "Binance Announces Suspension of Litecoin MWEB-based Transactions. Several exchanges are delisting Litecoin on their platforms, citing that the coin violates certain financial acts. Binance has also announced that LTC MWEB deposits and withdrawals will be suspended on their platform.13 Jun 2022" -that sounds exactly like what I was saying in terms of how most exchanges treat already treat zcash. Keywords being "Litecoin *MWEB-based* Transactions." In terms of the several exchanges supposedly delisting Litecoin, sounds like bs unless you know of any. When is the article from?