LiteCoin (LTC) Could Still Be Holding the Breakout Baton

in litecoin •  7 years ago 

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

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!