SUMMARY
Litecoin (LTC) is showing what a breakout really looks like! Price moves vertically and impulsively. Following the ABC flat correction, Litecoin has breached the upper blue line and had been surging in a more vigorous fashion than Bitcoin!
The closeup shows that white wave 2 made a near 88% retracement of white wave 1; but still, it obeys the wave 1,2 interaction in that wave 2 doesn't equal the start of 1. So, technically, wave 2 could retrace upto 99% of 1 and still be valid. Wave 3 is also perhaps complete and if not so, current price action could be working on wave 4 followed by 5.
There is a scenario where wave 3 is not yet complete and as shown by the yellow subwaves, price could still be working on the subwaves of purple 3. Given how vertical price had borken out, the vigor could extend to provide this current as the primary count. Once the five waves are complete; there would near zero argument for a three waveish type of bounce to describe the current breakout. A bottom could also be called! Let's see how the overnight price action moves.
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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
BCH/BTC
BTS/USD
Ascending right triangle and volume confirms.
Litecoin has probably risen due to the impending release of Litepay on February 26th. Will be interesting to see if it lives up to the hype.
Keep going up! Daddy wants to cash all the way out!
Thanks for this update on LTC.
I am sure glad I bought 200 more at $140
Whats the possible low on the next Down Wave? tks.
This year is a big year for Litecoin...A lot of developments and new services coming out. Might be a good long term hold.
hodling
I believe LTC should hit $500
I think it will be a big year for many tokens. I wonder how many we have end of 2018 and how many have gone extinct.
Time will show.
I Totally Agree!!
I believe the $500 target would be attractive!
Haejin, great post as always.
Since you make a lot of posts, in your disclaimer you may want to beef it up and revise it to something like:
Legal Disclaimer: I am not a financial advisor and this is not financial advice. The information provided in this post and any other posts that I make and any accompanying material is for informational purposes only.
It should not be considered financial or investment advice at all. You should consult with a financial or investment professional to determine what may be best for your individual needs.
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.
Better yet, check out some good examples on the internet Let Me google that for you
Well just food for thought anyways.
Think about it...who is going to JUST look at this post and say "Ok, I am convinced"....
I would hope people put more time and effort in their research when investing
I know. I guess all it takes is one person to sue you.
Even if they lose and you win, a lawsuit is a big big pain in the ass and also stressful.
Procrastilerner I can't believe you just did that in front of his viewers. Did it make you feel smarter than Haejin? If it did, then you're an idiot. You know nothing about culpability. Anybody who has these stupid disclaimers thinking it affects exposure is just as idiotic. Is anybody here paying him for advice? Is there a coercion happening from his opinion? He has zero fiduciary duty here. Even if he did, your disclaimer would mean absolutely nothing in a civil action. Do you know the laws in his venue? Do you even know where he lives? All you're doing is regurgitating what you've seen or heard on the internet, thinking it gives you some sort of validity. The fact that you 'earned' $0.14 on YOUR advice is an abomination. I should sue you.
Thanks! I appreciate it!
I see such a picture of technical analysis.
Yes, but the depth of retrace could be shallower.
Hay que tener cuidado con LTC ya que la bifurcación no proviene del equipo oficial, podrá tener un bajón en cualquier momento.
Creo que LitePay y las noticias de todo eso esta ayudando el precio. Alguien me habia dicho que los altcoins deberian de pasar su ultimo "all time high". Me gusta que el fundador de litecoin haya dicho que Litecoin Cash es una Scam... No se, pero siempre me ha gustado LTC. Puede que con la salida de lightning ya no sea tan necesario, pero yo creo que LTC tiene mucha vida todavia
Good post @haejin, please upvote back me @hazmisyahputra, thank you
Great news for Ltc with litepay news! I do wonder what will happen when Btc releases the lightning protocol, if this will affect Ltc at all?
super good news! a little action.
big cock haha
26th Feb is still at a long distance, and that is when it will boom.
Thanks Haejin.
Litecoin is having a fork, some call it a scam, do your due diligence.
Maybe it is a sign that the coin is mature and worth duplicating. 🤔
I don't get why people call it a scam. It is open source code and some developers have decided to try and take the coin in a different direction. How is that different from Bitcoin Cash ? In that scenario it wasn't the main developers forking a new coin but again some developers wanting to take it in another direction.
That being said I like Litecoin because it uses a different algorithm and is lightning fast, so prefer the original, but free crypto is free crypto !
Some have also called Bitcoin Cash a scam. True or not, some people have their minds made up and are hodling to their version of the truth (and their approrpriate coin ;-) )
https://steemit.com/litecoin/@philakonecrypto/litecoin-ltc-feb-16-technical-analysis-supports-resistances-thoughts-thank-you-for-100k-subs-followers
LTC is going to make some big moves in the next few weeks. Anyone hear anything about some type of partnership with Facebook?
What about Nexus NXS
soy nuevo, y este post me ha ayudado a actualizarme relativo a las monedas virtuales le felicito.
gladly I bought sum right before the breakout, finally something green in my portfolio :D
https://steemit.com/litecoin/@philakonecrypto/litecoin-ltc-feb-16-technical-analysis-supports-resistances-thoughts-thank-you-for-100k-subs-followers
Thank you much for the post and the info! #HaveAGreatDay #LTC
It's great to see Litecoin making a comeback after a difficult month. It's one of the most promising coins and deserves a place in most people's portfiolios.
Litecoin has been my underdog coin and I have had much hope in Litecoin since looking into it mid last year. This year is looking up and I am stoked!
Nice post !
Agreed !
Litecoin breakout about time.
Leaving the disclaimer aside, what do you think is the better option to invest in, bitcoin or litecoin? I am not a financial advisor, but given the popularity of bitcoin, i think bitcoin is comparatively a better option
Let's go! #paywithlitecoin everywhere you go
Thoughts on Ethereum? Thanks!
this is my long term view https://steemit.com/litecoin/@superblocks/litecoin-ltcusd-update-9th-feb-2018-hodl-till-usd1200
Haejin said "Do not advertise your blog here."
Please consider it.
I like the work of yourself and others who do tech analysis. I just skim over it, but realize some great trades can be made based on sound charting work. Keep up the good work!