The end of correction is near, this will be a great buying opportunity
The main reason I love markets it is because of market psychology. It's funny how people are more willing to buy at $370 per coin, but after the price corrects they lose interest. A lot of them, buy at the top and sell on the last leg down. Let's try to do the opposite.
This is the time when I get excited, to invest when there is a discount.
Litecoin reached all time high at $370 on December 19th. First Elliott wave was so impulsive, a longer correction is normal. My view is that there is a ABC correction, before next bull run. Wave C is impulsive, targeting 161.8 extension $117.
Buying zone is between 161.8% extension at $117 and 100% wave C extension at $86.50. Since it is impossible to pick the bottom, ideally looking to buy close to $100. Targeting another all time high.
Follows and upvotes are appreciated :)
Disclaimer: The information contained herein is author's opinion, does not purport to be comprehensive and is strictly for information purposes only. This is not a financial advice. It should not be regarded as investment/trading advice.
I totally agree. However, the whole market is heading south. So, maybe it would be wise to wait a little bit until we hit the bottom. In other words, I think it would be a mistake to analyze LTC alone regardless of the whole market and especially BTC.
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I did post about BTC a two days ago. You can read the article here.
https://steemit.com/cryptocurrency/@ctyptouniverse/bitcoin-poised-to-test-8-000-before-rebounding-to-new-all-time-highs
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Thanks for sharing @ctyptouniverse
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Please vote me
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Try contributing something valuable first :)
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Aren't you afraid that btc stagnation might counter the take off of litecoin? After the drop in btc price chances are there will be months of 0 growth for btc and ltc price might incendentaly stagnate too no?
Anyway nice explanation and yeah, buy when there is red on the street ^^
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I published about bitcoin a few days ago, you can read it here. Everything is moving the same direction, the only thing is, which one will move faster.
https://steemit.com/cryptocurrency/@ctyptouniverse/bitcoin-poised-to-test-8-000-before-rebounding-to-new-all-time-highs
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I have read the article. It is a good one actually.
BTW, I have noticed that you say here that : I published ..., whereas the article is written by @ctyptouniverse. Are you the same person ? ;)
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Good observation lol. We are brothers actually, investments strategy is a mix of him and mine.
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This is a great analysis of crypto ...Carry on your activity...
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Good to hear your advice with TA chart. It make us more confident to understand what is going on.
Can you share your portfolio for long-term investment? How many percent should we keep fiat (or USDT) to continue buying at the dip price?
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My portfolio is heavy on Ethereum, around 70%, then EOS and OmiseGo. I have a bit of steem too.
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Nice analysis, I fully agree. I’ll also try to pick around usd 100. Upvoted.
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