SUMMARY
Litecoin(LTC) also is in a downward wedge pattern, very much like Bitcoin. However, the Elliott Waves are shown as an ABC Flat with the subwaves of the C approaching completion. Price has well obeyed the triangle upper and lower boundaries.
The Apex, as the wedg boundaries are currently drawn, shows intersection at around February 24th or so. Price is currently about 17 days out and that proximity is a bit far. It would be more ideal for less than a 10 day gap or at about where the red line tags the lower white boundary for wave (v) of C. Why would this be more ideal? It's because the closer proximity to the Apex allows a more thorough cleanout of sellers. The last remaining weak hands, the ones who soon won't be able to "take it anymore" and likely panic sell at the next bull wick. Recall that Bull Wicks usually occur more than once as price approaches the Apex closer and closer. Thus, wave (v) could result in yet another bull wick where price will once again pierce the lower line to cause the final remnants of the would be sellers to release their desperate clutch and panic sell their Litecoins to ready buyers!
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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I am locked and loaded to buy another $50k of lightcoin.
Moved my buys up to :
10k at $100 / 15k at $80 / 25k at $65
litecoin to 1000 dollars soon
I also believe the same. Although it is likely going to take a fair while yet.
I believe within this year is highly probable!
i think it is possible!! kinda wish I never sold as many litecoin as I did but I kept a small bag just incase it decides to head for the moon.
I’m bearish yet. I believe we need continue the recoverage moviment and cancel last low pivots.
Come on!!!
It may be down for now but it will come back with vengeance. Hodl tight!
I'm pretty sure it will recover soon. Great article, thanks for sharing!
I don't see all corrective structure as a triangle, but final forecast looks the same :)
Nice chart. The $70 target would suffice for a lower low and correction bottom. I believe LTC will turn on the dime, correlated with BTC
Thanks for the tip @haejin
Best post
thanks for sharing.. though I'm nto sure of a correction at point since LTC alrady took a good beating.
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Thanks for the TA
Charlie sold all of Litecoin at the all time high.
no it shouldnt
It should be the top coin for transactions p2p
I really like this GIF made by @overkillcoin which @stellabelle shared in https://steemit.com/promo-steem/@stellabelle/join-the-thunderclap-today-and-let-s-make-steem-trend-on-twitter --great visual demonstration of how poised Steemit is to handle the type of volume the credit card processors are handling, as well as a good comparison of BTC, ETH, LTC, and STEEM.