SUMMARY
Litecoin(LTC) also is in a downward wedge pattern, very much like Bitcoin. However, the Elliott Waves are shown as an ABC Flat with the subwaves of the C approaching completion. Price has well obeyed the triangle upper and lower boundaries.
The Apex, as the wedg boundaries are currently drawn, shows intersection at around February 24th or so. Price is currently about 17 days out and that proximity is a bit far. It would be more ideal for less than a 10 day gap or at about where the red line tags the lower white boundary for wave (v) of C. Why would this be more ideal? It's because the closer proximity to the Apex allows a more thorough cleanout of sellers. The last remaining weak hands, the ones who soon won't be able to "take it anymore" and likely panic sell at the next bull wick. Recall that Bull Wicks usually occur more than once as price approaches the Apex closer and closer. Thus, wave (v) could result in yet another bull wick where price will once again pierce the lower line to cause the final remnants of the would be sellers to release their desperate clutch and panic sell their Litecoins to ready buyers!
Legal Disclaimer: 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?
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