SUMMARY
Litecoin (LTC/USD) had shown the early leadership of breakout both in form and fit. As the below chart shows, the breakout was with vertical price action which is vintage. It had carried the baton ahead of Bitcoin and I believe it still does. Note how price has been going sideways; this is usually a consolidation move and not a topping indication.
The Elliott Waves show that likely waves 1,2 and 3 are complete. Price seems to be currently putting in the final touches of wave 4.
This chart is interesting in that the white wave 3 can be subdivided into blue fives; hence making it likey complete. IF wave 3 is complete, then white wave 4 is taking the pattern of a symmetrical triangle as sown by the red abcde. It looks to be near complete; if not already! IF wave 4 is done, then wave 5 is next and it should target towards
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
