Buy Signal on Litecoin Paves Way For Astronomical Crypto Altseason

Tony "The Bull" Severino

5 years ago

2 mins read

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Litecoin has just flashed a buy signal on weekly timeframes, that could send the crypto market into an astronomical altseason. Here are the few factors paving the way for the next major altcoin boom.

Litecoin Set to Boom Against BTC, Sparking Crypto Bull Run

Litecoin is the silver to Bitcoin as digital gold, and while both Bitcoin and the precious metal have been stealing the limelight for months now as store of values, Litecoin and silver could soon sparkle once again.

Litecoin, which often leads the crypto market in breaking out into powerful rallies, has just triggered a buy signal on the TD Sequential indicator on weekly timeframes on LTC/BTC price charts.

This signal has proven incredibly accurate in the past for other cryptocurrencies, recently calling for the top in Bitcoin, and the bottom in XRP, which surged just today.

Litecoin could be the next to explode against Bitcoin, and it could bring with it an enormous altcoin season.

TD Sequential, BTC Dominance, More, All Point to Altcoin Season

The higher the timeframe the signal, the more likely it is to show results. A buy signal on weekly timeframes is significant. The last two times these weekly TD 9 buy signals appeared on LTC/BTC charts, was in December 2019, and before it in December 2018.

Both of those months acted as short term bottoms that took crypto assets out of the depths and to new highs.

These bursts in performance by Litecoin against Bitcoin, also kickstarted an alt season each time.

Altcoin seasons are extended periods of time when the alternative crypto assets greatly outperform Bitcoin. Oftentimes, this happens when Bitcoin is stagnant, and trading sideways, much like what is currently taking place.

Further adding credence to the theory that an alt season may soon be upon the crypto market, is the fact that BTC dominance has broken down from a long-term trendline, then reconfirmed it as support turned resistance, and began falling once again.

BTC dominance could trend lower towards the percentages seen at the peak of the crypto hype bubble, which would suggest that altcoins are soon going to soar compared to Bitcoin, and recoup the losses investors have suffered through over the last two years of a bear market.

Altcoins have long underperformed against Bitcoin, except for Chainlink, Tezos, and a handful of others. And even though Bitcoin’s halving is ahead, it could be altcoins time to shine.

However, any altcoin investors must be careful, because if Bitcoin suddenly explodes in one direction or another, volatility could crush altcoins and put a preemptive end to any altcoin rallies.

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.