SUMMARY
Litecoin (LTC) broke out of the a,b,c,d,e triangle with gusto and is now correcting. For the benefit of the doubt, I've labeled the a,b,c as potentially being complete and the subsequent impulse that should be seen to confirm the trend change. However, this is NOT my primary count.
Don't forget about the "Hurry Up & Wait" syndrome of Altcoins. Litecoin is no exception to this syndrome as it is an innate genetic trait of all Altcoins. Thus, I believe the correction be slower and longer as shown below. So, when is the best time to buy? If you viewed my Tutorial on Buy/Sell Setups then you'll know exactly that you don't buy a correction until the terminal end of the a,b,c waves. So, I've added the subwaves of red wave c and one would consider laddering in during the blue wave 5. What's laddering? Check out my tutorial on this invaluable tool here.
The below is LTC/BTC and the very long angled white line represents a formidable resistance. But look at the triangle fractals! The current fractal will break out like the prior twos. If so, we could see an impulse towards 0.0403 BTC. The LTC/BTC pair is as we now all know, behind in price progression compared to the LTC/USD pair so that gap will be close pretty soon.
Video has more details!
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?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
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.**