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SUMMARY
THREE days ago, I had projected the below LiteCoin Price Trend. That wave 4 will decline to about $80 and then SURGE to $168.
Below is current chart showing how I had also defined a bullish ascneding right triangle and price SURGED past the $114 short term target of the bullish pattern!!
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
As it stands Litecoin is the only practical fiat gateway available. Bitcoin and Ethereum are both clogged to the point of being unusable. It's no surprise it's going up.
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This is, of course, a great point. Think we're seeing more of this today, and alt-coins will outperform bitcoin for the foreseeable future. Especially when the CME trading begins.
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I really appreciate your comment but I have to say I don't believe this. I think Bitcoin's run has not finished yet. Long term I'm actually pretty skeptical on Bitcoin, because, like Ethereum, I don't believe they will ever be able to effectively solve their scaling problems. But for now the masses and big money are just starting to come into crypto and Bitcoin is the first step, I think we will see more irrational moves higher.
It surely must be only a matter of time though before the merchants, exchanges and payment companies switch to something else as the reserve cryptocurrency. The crypto economy as a whole is choking because of this scaling problem, and the market will be forced to find a solution. What that will be I really don't know. Dan's projects seem to be the only rational, level headed answer to this problem for now.
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Dan Larimer?
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Yes, I meant Dan Larimer's projects, using DPOS.
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Thanks for the reply, the more I read about BTS and Steemit, the more impressed I am. I have long heard that Steemit is "just a blogging" platform and has no future as an investment or cryptocurrency per se. However I think it is a GIANT from all I have been hearing. The fact that BTS and Steem perform more transactions in a day than BTC and ETH combined is astonishing, and makes me wonder why more people are not screaming this from the rooftops?!! I will read more about DPOS and DAG. The only thing I find troubling about EOS is the mystery company behind such a powerful project, and that he is not in control of the project entirely (his own words).
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Me too, I think the DPOS format currently in use on Steem and BItshares is the best solution we have at the moment for scalability, user experience and governance. DAG technologies like IOTA do arguably promise more in the future, but they are unproven and only theoretical at this point. I, for one, am quite skeptical as to whether IOTA will be able to live up to its promise, and I am very unimpressed by the behaviour of the devs and team.
Byteball is a DAG project that looks very promising, and has arguably better tech even than IOTA and a much more sane team.
I have a feeling that the DAG project that will win in the end is yet to be born though, but when a really good one comes out, I'm going to be backing it strongly.
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What is a DAG?? Decentralized something?
The problem with OpenLedger and Bitshares, will occur when there's a lopsided movement OUT of crypto. All the pegs will fail at that point, and the people who think they own virtual dollars or virtual yuan currency will in fact own nothing but a dying BitShares crypto-currency.
This is what they mean when they say "all but extreme circumstances" in their literature.
Tread carefully.
Lastly, simplicity usually wins. Steem has Steem, Steempower, Steempower Delegation, Steemdollars and SBD savings accounts. This is VERY complicated and cumbersome, and OpenLedger is even MORE complicated.
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Yea true. Bitcoin will be fine, its because it is seen as the gold in crypto. So it wont just die out. Plus Bitcoin will have lighting enabled as well. So it will be just as fast. Now as far as scaling is concerned Vitalik has been upfront and vocal about it. He knows its an issue. ETH has planned phases to help with it. However eth for me has been by far the fastest coin to transfer despite the crypto kitty crap. Also I think this CME thing wont have too much effect. Always remember if you sell there will always be another buyer. For now I think bitcoin will surpass 20k, there wont be any major correction until january after new years. Reason being is the irs man. The tax man cant do anything if you have all your money invested not sitting in fiat. January might be a different story, where we might see a long term correction.
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As segwit gets fully implemented over the next few months it will get better. Lightning Network is also coming soon. So I anticipate things will get better
So I do not think this will be a long-term issue. Though probably not fast enough for most of us.
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The people at Ethereum say the same thing. I'm honestly not trying to be antagonistic, but I have as little faith in the Bitcoin Core devs being able to scale Bitcoin as I do in the Ethereum devs being able to scale Ethereum. The scaling solutions all seem to be just around the corner, while reality is catching up fast.
I'm honestly beginning to think they're just playing musical chairs, and selling us fairy tales to hide the fact that, on a fundamental, structural level, 1st and 2nd gen cryptocurrencies just cannot scale.
I think the future will have to be either DPOS or some form of DAG.
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It's the implementation if the new tech that's the problem. Segwit code is has been available fo a year. Yet the Coinbase and alot of big companies have not yet implemented it. Yet some little wallets have it. Lightning code is now available for development it just needs implementation. Which isn't up to core. It's up to the BTC wallets to implement the upgrades. They are there. It's a bit of fud to say they aren't really working on it.
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Thank you Sir ! ETP about to complete all sub waves and explode https://www.tradingview.com/x/koNYoExX/
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Gosh I hope so!!! People kept buying more on the dip, only for it to dip lower than the all time low! Vicious manipulation of a coin with such great potential as this one! Did you take a lesson with Haejin? your chart looks really good:)
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I watched all his videos and bought the book that he advised .I am studying it now slowly and at the same time I am practicing. When I am done with the first book I will buy the second one. Thanks for your kind words :)
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hey Olivers thanks for the graph. I'm wondering if you can explain what the relevance of the USD price is on Haejin's charts?
There is no USD market for most of these coins so why does he do a USD vs coin price and then a BTC vs coin price?
In other words, what's the point of having the USD price when you can't sell the actual coin for USD anyway?
Thank you :)
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then he will down now-wave 4?
After it 168$?
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Yep, whats happen next? :D
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Also @haejin could update Civic?
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This was a really great analysis. Anyone selling at the target made some good money I bet!
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to the moooooon!
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Having got bored of LTC after seeing it stay around the same price for so ling , its nice to see if finally making some serious party moves !
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Pretty happy with my LTC! Been just chilling with it since $60
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nice. u did also with IOP. that was a real BOOOM. keep the good work
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I am following and starting to really believe in your picks! The best one on Steem that I have found so far but then again I have no clue about trading. I need you to keep showing me the path! Profited well from this one today...
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Bitcoin is just a storage of value !!! Future is hold BTC, convert btc to ltc using atomic swap and transact with litening speeds !!! This is what future holds !!!
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молодец братан
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I think fomo is hard on this one. Its suppose to be pumping hard off the tweet from Mr. Lee. Gdax pricing is screwing with me. I think it might come down to 110 over there hopefully, but way over bought right now and not slowing down. Wave 4 might be that much deeper.
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LTC already getting close to $168. Awesome predictions. Would love to know where LTC will go after $168. Please post the analysis on LTC again.
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it seems this isnow the treding topic, japan and Skorea have now legalised crypto currency.
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Please elaborate!
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Lite it up !
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