Crypto Contest November 12: Litecoin
Litecoin (LTCUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, Litecoin began a wave one advance on December 5, 2016. The red wave one finished on January 2 this year, and the red wave two correction ended on February 9. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on September 2 this year, and the red wave four correction ended on September 15. If this wave count is correct, Litecoin should be heading next towards the September 2 peak in the red wave five.
(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).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Here is a short introduction video of Litecoin.
(Source: https://litecoin.com/)
If you think this analysis is correct, upvote this post and upvote the comment "Litecoin will takeout the September 2 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Litecoin will drop below the September 15 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 September 15 low and the September 2 peak until December 13".
You can upvote the comment until 3 PM EST November 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).
Litecoin will stay in a trading range between the September 15 low and the September 2 peak until December 13 (28 voters as of 3 PM EST November 13: helikopterben, flemingfarm, soundmoney, twinner, simonjay, lucasgabd, catena, heroic15397, dlina-v-metrah, glennolua, gregory-f, themovieplace, crokkon, yefet, starline, tzap90, komischername, incrediblesnow, coolthings, abh12345, lasper, richard78624, allmonitors, ragnaros, profithouse, margaritaradkova, freskil, koskl).
Litecoin will takeout the September 2 peak (25 voters as of 3 PM EST November 13: bleujay, eirik, bentleycapital, lydon.sipe, miniature-tiger, psywalker, reconnectnature, criptorafa, misalen, toofasteddie, skririm, mprgrmmr, mihail.tsvetkov, mirda, digitalking, cassidyandfranks, me-do, carlosdaniel, napkin, amfid4846, kanoe, heidelbaer, arpepa, m3rcos1ty, abay).
You won.
Only a moonlite is a good lite :)
Litecoin will drop below the September 15 low (4 voters as of 3 PM EST November 13: kunschj, anetchen, gunsmithing, andy23).
i can definitely see litecoin hitting over $100 before the first of the year, it's way undervalued considering how stable it is and how long it's been around.
upvoted
may be this interests you
https://steemit.com/cryptocurrency/@allthereisislove/how-i-made-a-near-100-profit-on-dash-in-10-days
thank you for your time