Crypto Contest January 7: Litecoin
Litecoin (Bittrex: LTCBTC) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Litecoin began a wave one advance in October 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in February 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Litecoin should be heading next towards the February 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe Litecoin is currently in the red wave three (blue sub-wave iii). The red wave three began in October 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Litecoin is money for the Internet age. CoinKorea discussed what was fueling the Litecoin rally on January 5.
(Sources: Litecoin and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will takeout the July 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will drop below the December 2018 low".
If you think Litecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will stay in a trading range between the December 2018 low and the July 2018 peak until February 11".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 10 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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Published by Maarnio
on
Litecoin will takeout the July 2018 peak (10 voters as of 3 PM EST January 10: bleujay, bentleycapital, steemit.nemesis, allyouneedtoknow, lydon.sipe, ace108, reconnectnature, jznsamuel, utkarshvarma, sporttr).
Litecoin will takeout the July 2018 peak.
Posted using Partiko iOS
Litecoin will stay in a trading range between the December 2018 low and the July 2018 peak until February 11 (15 voters as of 3 PM EST January 10: gregory-f, mellofello, abh12345, skepticology, diana.feuerberg, crokkon, novus-locus, vicspics, barbadosso, steem-d-anlovnit, harryp3, mgood, richard78624, diogosantos, simonjay).
You won. Paid out from @maarnio1
Litecoin will drop below the December 2018 low (2 voters as of 3 PM EST January 10: sqlinsix, galasek).
I´ve been waiting on Litecoin for a long year already, I was very bullish on their project (and still am), and I only hope they keep working to deliver what they promise.
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