Crypto Coin Breakouts 2017.07.04

Litecoin has broken out.

This was to be expected as litecoin has been correcting in a side ways pattern since the previous impulse move. You just never know when it is going to move further. The breakout has been confirmed by the Elliott oscillator (a simple 5,34,13 MACD) and a rise in volume. The breakout was preceded by a retracement of the Elliott oscillator back to zero, which is an indication that the upswing has been corrected sufficiently and prices are ready for another breakout. Also, the Elliott oscillator broke out at the same time as the breakout in the chart window occurred. A clear buy signal.

Bitcoin has also broken out and litecoin broke out versus bitcoin suggesting digital silver will go faster than digital gold this time.

In addition to Litecoin, I noticed similar breakout signals in XEM, bitshares and PIVX. The PIVX signal is a bit older already, but as it's still below the breakout value it looks buyable to me.