SUMMARY
We discussed in prior blogs how the uniformity of sentiment across cryptosphere is outputting patterns and Elliott Wave counts with a very high similarity index. We also covered two types of the patterns that keep showing up: Bullish downward pointing symmetrical triangles and bullish cup & handle formations. We've also seen how these can breakout like geysers! E.g., ZEN, VERGE, etc.
I'd like to add a third type and this has been shown and introduced several times already but fits well into raising the similarity index. That is the "Jaws of Wealth"! And Litecoin (LTC) is crouching directly on such a pattern.
The below chart shows a broadening price pattern. It's very bullish because trend, pattern and Elliott Waves all point to an impending surge towards the upper line of the broadening pattern. It'll be a site to behold and the other week we got a peek of how LTC can surge when it almost hit $70! This was just a foreplay! Target is $150 for now because of the "Hurry Up & Wait" syndrom of cryptos and in the upcoming impulse, LTC will most likely hurry up the waves and tag the upper line pretty quickly. Video has more details! Enjoy!
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Legal Mumbo Jumbo: 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.**