LiteCoin (LTC): This was Just an ABC Bounce

2년 전

SUMMARY

The blue abc show how Litecoin's (LTC) price was just an oversold bounce. The correction is not complete in that this leaves the red E wave further down. The blue 1,2,3,4,5 represent the subwaves of the white (c) wave and it could range from $89 t0 $77. Meanwhile, the bull flag pattern is still valid because the red ABCDE waves remain valid.

The MACD has room for one more dip but at a higher low while price generates a lower low; and thus the positive divergence still remains. This lower low can wreak havoc on the weak hands and that's the exact intent in generating the process of a corrective bottom.

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
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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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hmm... I am going to just hold...

Weak hands!!! Going to ladder the f in....!

Seems like crypto is dead. I will buy only when 1 LTC = .1 cent.

I predicted LTC price below 100$ 24 days ago :)

  ·  2년 전

why still correction whemn we are entering in Q2 ??? isnt this is bull run quater period!!

ways to advance

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The best ways to advance is to UNFOLLOW @Haejin & check out @FlagAWhale

Thanks! XVG/BTC - I think we are still in an ABC correction and in the larger B wave. It looks like a flat (3,3,5) to me. Can you verify my thought process?

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  ·  2년 전

And thats exactly my question:) To me it also looks like a flat 3,3,5 forming. I target around 520.

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If it is a flat I wouldn't expect the price to drop much more than around 713. A flat correction doesn't have enough downward pressure to go much further below the previous A wave. I also noticed a flat subwave so it could be a fractal of the outer pattern.

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  ·  2년 전

Well, best to keep a close eye to the c wave! I am sure it will go below 600 in relation to the extended fifth wave...

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That would be fantastic ;)

Hola @haejin, gracias por la informacion, excelente post, un abrazo.

It's funny to watch all these TAs failing every single time :)

Hey @haejin, so in other means, it is likely safe to go on long on this one. Thanks for all these tips, bless you.

How to use the Changhelly website to buy and sell Bitcoin and digital coins by Visa and Mastercard
https://steemit.com/bitcoin/@ali11/how-to-use-the-changhelly-website-to-buy-and-sell-bitquin-and-digital-coins-by-visa-and-mastercard

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
EOSEOS5.805$-0.86%-4.07%
LTCLitecoin114.031$-3.72%-3.37%
QAUQuantum0.093$-3.85%-4.03%
WAVESWaves3.365$-3.43%-6.93%

beautiful post