Litecoin (LTC) Update: Will the correction be long or short? Find outin this analysis!
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SUMMARY
Litecoin (LTC) broke out of the a,b,c,d,e triangle with gusto and is now correcting. For the benefit of the doubt, I've labeled the a,b,c as potentially being complete and the subsequent impulse that should be seen to confirm the trend change. However, this is NOT my primary count.
Don't forget about the "Hurry Up & Wait" syndrome of Altcoins. Litecoin is no exception to this syndrome as it is an innate genetic trait of all Altcoins. Thus, I believe the correction be slower and longer as shown below. So, when is the best time to buy? If you viewed my Tutorial on Buy/Sell Setups then you'll know exactly that you don't buy a correction until the terminal end of the a,b,c waves. So, I've added the subwaves of red wave c and one would consider laddering in during the blue wave 5. What's laddering? Check out my tutorial on this invaluable tool here.
The below is LTC/BTC and the very long angled white line represents a formidable resistance. But look at the triangle fractals! The current fractal will break out like the prior twos. If so, we could see an impulse towards 0.0403 BTC. The LTC/BTC pair is as we now all know, behind in price progression compared to the LTC/USD pair so that gap will be close pretty soon.
Video has more details!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: 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.**
0.0403 BTC and I will drive up to Massachusetts and kiss you...
that nasty...lmao
Interesting Golos (GOLOS) on Bittrex is like Steem for Russians. Has good interface and great translation. Not really making pops. Could it in the future? Maybe some English bloggers could even post on it to spread positive ideas
The frequency of these posts is becoming quite spammy
I respectfully disagree!
then go look somewhere else bra......haejin has a reason he has a huge following that becuase he teaches informs and give guidance...if you dont like it then mute it pal...
pretty weird comment considering I follow and upvote his content. It was just some feedback. Bra.
How is it spam ? Words have meaning. Spamming is putting up the same shit all the time just for spams sakes. Just cuz you follow him give you no right to call his posts spam. If it’s seems spammy then don’t look at it. New ppl come here and see comments like that and they get turned off. Just saying bra.
agreed! 100%
I'm laughing here because that face on your avatar looks like your saying Bra...
No problem if it is a problem for you and others to learn about new coins that I find that Master haejin have not analysed and I think are potential trades I will stop. This is just my way of asking if it is worth a view for some new trading. This coin has a developer involvement of 75% There are only 44 coins/tokens that have more involvement out of 834 that https://www.coingecko.com tracks. I am currently doing an analysis of all those coins/tokens to discover what ones are listed on major exchanges, that have purpose, developer and overall support, make possible good trades. This is why you see a number of posts by me. If you now feel I should not post more and others feel the same way I will stop. I have also asked Master haejin to review some past coins/tokens that have since increased in value. I will probably keep this up as my requests are pretty infrequent. I do not mean any harm. Thanks for being supportive of this group. I just want to do the same.
@haejin can you do a informative post in regards to the difference between trading coins on bittrex against btc versus usd? Thanks!
JUST POSTED THIS UNDER REPLIES but really need an answer. Sorry.
“VERY VERY CONFUSED...I DONT UNDERSTAND....A little while ago you said EOS was in Wave 5 and will have a correction to about 1.85. Also to ladder out.nothing wrong in taking profits.Why now in this post do you say well done to Robinson’s at $2.60!!!!!! And that it has completed the correction in saying well done”
Hi Haejin, than you for your work! I am interested in setting up some coaching time with you around 12/6 or 12/7 if you have time. Where can we discuss this further?
@haejin an excellent analysis, clearly understood and thank you.