Crypto Contest July 12: Litecoin
Litecoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Litecoin began a wave one advance on June 26. The wave one finished on June 28, and the wave two correction ended on July 2. The wave three advance finished on July 5, and the wave four correction ended on July 8. If this wave count is correct, Litecoin should be heading next towards the July 5 peak in the wave five.
(Chart courtesy of Tradingview.com)
In the weekly chart, Litecoin is most likely in the wave three (sub-wave iii).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Litecoin will takeout the July 5 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Litecoin will drop below the July 2 low".
If you think Litecoin is in a range, upvote this post and upvote the comment "Litecoin will stay in a trading range between the July 2 low and the July 5 peak until August 12".
You can upvote the comment until 3 PM EST July 13 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Litecoin will takeout the July 5 peak (24 voters as of 3 PM EST July 13: simonjay, yefet, gregory-f, lydon.sipe, dirty.hera, dinoo, cassidyandfranks, migo25, damla, catena, allyouneedtoknow, flemingfarm, eirik, psilacetin, kooshikoo, miniature-tiger, ragnaros, mprgrmmr, allmonitors, carlosdaniel, lakov, mrblue001, lig007, jeffone).
LTC and ETC will rule the race ;)
It sure looks like that.
Litecoin will stay in a trading range between the July 2 low and the July 5 peak until August 12 (15 voters as of 3 PM EST July 13: twinner, ikilledcobain (did not vote main post), mrslauren, starline, abh12345, mirda, jznsamuel, tzap90, coolthings, nicnas, rasalghul, utfull, andy23, krishnan, rhino).
Litecoin will drop below the July 2 low (1 voter as of 3 PM EST July 13: ace108).
You won.
Whats up @maarnio I just followed and up voted. Hope you will stay with me & follow me
Thank you. I can follow you.
Litecoin will stay in a trading range between the July 2 low and the July 5 peak until August 12
Interesting how many of these 4hr chart breakouts fit the continuation chart patterns as well, like this a bullish pennant. I enjoy your daily take on the various crypto.
https://steemit.com/cryptocurrency/@maarnio/crypto-contest-status-report-vi
About 75%.
This post has been ranked within the top 80 most undervalued posts in the first half of Jul 12. We estimate that this post is undervalued by $14.46 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jul 12 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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