SUMMARY
Litecoin (LTC) had placed a solid impulse motive of five waves (blue) and this was the breakout move from the bullish downward pointing wedge. A full Elliott Wave fractal consists of eight waves; five impulse and three retrace. The red ABC waves in the below chart marks the potential corrective pathway. The key question is as to whether wave C is complete and often subwave counting provides the best indication.
The corrective count shows a ZigZag in progress where red A consists of five waves down (white); B is followed with three abc (blue). The final C wave always has five and thus far, give the v-neck type of turn in progress; a tentative wave 5 of C bottom can be labeled. If this bounce turns into a trend reversal and a higher degree of trend wave 3 up; then that'll be confirmed at around $202 or so. That'll be the point at which any wave 4 would overlap with wave 1 and that's not allowed. So, this means that as price approaches $202; there is less and less likelihood that the current rise is wave 4 of C.
The Fibonacci retracement precision hit at 0.618 level which was at $159.22. It is interesting how quickly and easily LTC passed through the 0.5 zone in the current bounce. This is indicative of stronger than expected buying in progress. If the 0.38 level is also easily taken down; even a better sign!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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with so much ongoing development, I really look forward to the uptrend for litecoin!
Anybody use Loaf Wallet for litecoin on iOS?
Apparently it is just like Bread Wallet but for litecoin
I remember LTC for 5USD - and I was so alone with my idea - that LTC is much more undervalued, and he will break barier of 100$ faster than we think - and he made it so quickly...
Now - what is fundamental reason of value of LTC - this is better BTC.
faster, and cheaper way of sending money,
All my friends say - don't send BTC - transfer LTC, use LTC - cost is important - this is big value strengthen by huge capitalization.
Also using LTC - as a payment method for anything - everywhere - will move price higher.
Bearish sentiment - goes from regulators around the world.
When they finish their cry... - price may explode.
I think nothing gonna stop LTC from rising on LTC/BTC.
exactly , LTC as a transactional coin is the future of payment - cheap fast & will gain value
I got some LTC and willing to sell for some profit.
Tell me that It will hit $250 and I will believe you, because I am not selling for less.. Everyone be patient if you hold any of the top10 crypto,, The best is coming and if you read this comment remember that Patience is a virtue.
If Litepay project will be realized anytime soon there is a big possibility that LTC will be a hot currency for traders and we could see a new ALL TIME HIGH.
thanks for the enlightening writing. and good morning from turkey
Great posts and tutorials! Thank you!
i sell my ltc then it goes up. whats wrong with me!
You didn't listen to your Master Haejin! You Didn't make Massive Profits! :(
Thanks For sharing
Weekly Verge chart:
Sitting on the .88; I'm kinda trying to find out where this correction will end.
This guy changed his name & running voting pool again...
https://steemit.com/cryptocurrency/@corea/heajin-or-haejin
LTC is the way to go until the mt gox fud is resolved or the selling stops. BCC cannot hold a candle to the value LTC holds currently.
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