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RE: Attempting to Plot the LTC correction
So far, you've been spot on as it looks like it bounced hard from $20 last night to $26 now. Is that a large enough bounce to be considered bullish? fundamentals will make it very hard imo for any of the top non banking cryptos to go too low.
In log this was only a .264 retrace of wave iii which is the typical A-wave. Hit the box right on the money, but to shallow to complete normally unless really bullish. Only a 5 wave move over $34 will get me to change that view. Just being cautious since the ideal is $16, but we are in the zone where we can start to scale into the trade.
Any updates on LTC @wildtrader? It seems to have dudded out while all other crypto's are making all time highs, it hasn't moved much or even retraced its last pullback. I guess we did breakout from 20's all the way to 29's, but I guess i was expecting it to atleast be in the 30's by now. i'll probably hold LTC for now and move into Ethereum.