SUMMARY
I believe Litecoin (LTC) has a great future both technically and fundamentals will arrive to justify its amazing price ascent that's just started. The below chart shows the progression of the Inverted Head & Shoulders pattern. Meanwhile, the MACD has yet to breakout of the symmetrical pattern.
Thus far, volume clearly confirms the pattern given that the Head volume is highest (white arrows). As long as the volume for the RS remains below that of the Head, it'll remain valid. The minimum price trajectory is measured to be $246.67 (yellow). The breakout of MACD should definitely support this move.
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
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
