SUMMARY
The below chart shows a potential Inverted H&S pattern being put in by Litecoin (LTC). The pattern can also fit as a rounded price formation or a Cup & Handle. It doesn't matter which pattern, the direction is the only thing to find as a TA. Currently, the blue waves show that 1,2,3 and 4 are probably complete and 5 would be next.
However, the lead alternate shows that the five waves could be placed (blue waves). This means that the RS will coincide with the abc correction (white arrow). The MACD is still bullish but just that much more closer to the apex.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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