LTC / USD Technical Analysis May 11, 2018

I believe we are near the bottom of the correction wave C (cyan line). We have reached our golden zone between .618 and .65. Of course we could go a little lower. That's why I ladder in my buys and always have extra cash on hand to buy more if it goes lower as part of my strategy to buy the dips and sell the highs.

The longer term picture looks promising. I hear a lot of good to excellent fundamentals about Litecoin exploding this year but according to the technicals I can only project what the chart is showing me.

I see a price projection of $330 around Sept. 1st, 2018. This is using an intermediate Elliot wave count. Of course there will be gyrations of price along the way.

Note: If I'm long term investing in a coin I will hold a portion (10 - 20%), preferably in secure storage without trading them.

Disclaimer: This is my personal technical analysis. You should not trade cryptocurrencies without taking full responsibility for your own decisions. I will NOT be responsible for any loses you may have incurred based on my TA. Responsible money allocation is key to not gambling all your investments on one or a few trades. I am now a professional trader but am still learning the hard knocks and realities of swing trading full time. I take responsibility from my own decisions, so should you.