Litecoin (LTC): Correction is Almost Complete..Expect a Surging Breakout!!

in litecoin •  20 days ago

SUMMARY

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Here is Litecoin (LTC) long term chart and check out the pattern! A symmetrical triangle with the ABCDE waves labeled. All are complete except for wave E and that too is just about finished. This is exciting because as the E wave is sitting on the bottom trendline of the triangle, the propensity of the price is to breakout to the upside!!

So, let's now combine price and pattern with Elliott Waves. The subwaves of the ABCDE qualify the count. Volume has decreased to the minimal level; hence, volume confirmation is had for the symmetrical triangle. The MACD is also genearting the now very common symmetrical triangle pattern also! Expect a breakout soon!

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any chance you could do Tron or Eos, many thanks !!!

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Litcoin is one of the safest bets in crypto in terms of payments :)

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Litecoin is best coin in the sense of centric value.
Litecoin is public where Dash has moved to private nodes and cornered market mining.
I really see crypto moving towards private and public blockchains in a mining network sense.
Ether just surpassed 1Tb block size and thats going to be harder to mine soon. Eth will be a heavy Public blockchain but that may be a misnomer soon.
Litecoin bestcoin - safety speed store stable lightning net.
Yup

Thanks for the info! The Elliot Wave theory keeps popping up for me. Is that what you use to guide your trading? ;)

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Yep, that's what he uses.

I've been expecting a #LTC & #BCC breakout and so far I've been accurate on #BCC and my TA of when BTC itself would begin to correct. Let's hope I'm right & we're headed for a bull run !

what about the fate of bitcoin gold?
is there any good news?
Thanks @haejin !!!

I'm hodling.........

@haejin Thanks for the analysis! What do you think would be a good target for Litecoin? I'm hoping for something in between $160-$180

Now is it time for bull bounce back

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Seems that way. Lots of analysts calling for bull runs.

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lets all keep our fingers crossed

Um....that is not a symmetrical triangle. That is a decending triangle, which actually implies a downside movement generally. I get you know Elliot Waves but please ask a chartpattern guy if your going to just throw random names out there, other people read these things.

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He doesn't care. He gets paid thousands of dollars worth of steem from his circle jerk of friends every single day through these bullshit posts with his fake technical analysis full of random words and shapes that have nothing to do with cryptocurrencies or market patterns. It's been pointed out several hundreds of times that his analysis is incorrect, and all he can do is revert to his statement about how his posts are for entertainment purposes only. Looking through the past at his ridiculous predictions will show that he knows nothing about what he is typing. This is simply one of his ways to scam people out of their money on the internet.

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Agree. These are just charts for charts sake. They don't have any real insight or analysis. I don't get his popularity.

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Maybe you don't get his charts ;)

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The symmetrical triangle was apparently referring to the MACD chart

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Nope. It wasn't.
"A symmetrical triangle with the ABCDE waves labeled."
I'm curious about this as well.

@realcrypto.
Triangles are important part of EW so I'm sure Haejin had a reason to mark it this way.
And there is just no excuse to be disrespectful.

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my bad, I didn't notice this sentence

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I Fully agree with you, this is a descending triangle, commonly associated to a bearish market

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Where has he shown any sign of knowledge regarding EW?

I have seen a lot of TA over the last 3-5 weeks predicting LTC's breakout. Hasn't happened yet.

Part of the problem I see is that there is no news to support any of the predicted rise in price.

Abra, Aliant, Gemini and a few other news items have all been priced in until they start to roll out launches.

Anyone have any other insight into news beyond TA?

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
EOSEOS12.048$-3.83%-1.41%
LTCLitecoin118.687$-0.6%-0.32%
QAUQuantum0.153$-3.17%8.63%
WAVESWaves4.111$-4.59%-8.72%