SUMMARY
LiteCoin has patterned out a downward wedge (blue) and unlike Bitcoin, the second pattern is a bull flag rather than a rounded price formation. Still, the combination of these two patterns is a power potential. Price has broken out of the bull flag pattern and is correcting. The key question is what's next?
The blue impulse wave shows that five waves completed. The current correction can also be patterned into a downward wedge which is nearly complete. IF this wedge pattern is correct, then it's nearly complete. Price should turn up as shown by the arrows. The MACD is now becoming almost a giant symmetrical triangle. The potential energy stored in this coiled pattern could support an explosive reversal.
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Heres some data since the late jan that I put together, it shows the frequency of percentage range and price in € swings
I think Litecoin is destined to move way up in price. We just don't know when, so I'm patiently holding and adding.
Thanx for research ..i also think its a buy ..
Here's hoping we can see a big move in Litecoin. To me this is undervalued in attention right now.
It will dump papus
i agree with your prediction that litecoin has completed its correction!!!
Sir very well analyse I like yor explanation way to much.. @haejin
a very good post @haejin I agree with you can I Re-steemit this post
@haejin Hrm i'm concerned the falling wedge will... keep falling. If there is an impulse break higher, it may not have the bullish momentum and will see it return to April lows.
Looks like you are right crypto toast
Every now and then :)
I buy Litecoin once a month with extra money I have after bills are paid. I am very new to the cryptocurrency world so I am hunting for good information. I have found to understand what you are talking about but I am still learning, but learning more each day.
@haejin Seems like a buy. I think you might like my article. Charlie Lee was interviewed yesterday. I wrote about it: Charlie Lee (Litecoin) chats about fungibility and the Lightning Network
There's also metrics. The interviewer gave a compliment, and Charlie Lee liked it.
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