SUMMARY
The LiteCoin (LTC) correction is well underway. The below chart shows a probable a,b,c vintage correction. Don't forget about the "Hurry Up & Wait" syndrome that all altcoins suffer from. They will very quickly put in the impulse five waves and then take a very long time to complete the correction. So, I wouldn't be surprised if the correction drageed on for a day or so more.
Below shows the bigger picture of LTC/USD. The a,b,c,d,e bullish asending right triangle was breached decisively! I highly doubt that this will all fizzle away. It's a correction and a healthy one at that!
LTC/BTC is the laggard and once price starts impulsing, the 0.0403 target will be attained and still it'll be just the start of this bull run!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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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.**