These patterns often have anomalies, outliers etc that can disrupt time intervals and construe certain price points, but for the most part they seem to stick true to where they should land.
So with that said, see a plethora of symmetry when I work on LTC graphs and there are a few of indicators here that suggest we could be seeing a near to this down after a time of consolidation (my proposed ABC wave).
As for now I will wait to see a break below this .17 level to assume further downside and the possibility of reaching the .786 fib level as shown
With Litepay being a bust and the CEO now getting out of Litecoin I do think that the .786 or even the 1.0 Fib Retraction is a more likely scenario
acapo74
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@Wetdog544, Thanks for your input. There always seems to be some coincidental bad news around dips. It was doing fairly well before the news of litepay and the charlie lee this and that. I'm seeing the negative news about it on CNBC, Forbes and all those places which tells me they probably have an interest in accumulating at a good price. I remember seeing a tutorial on "how to sell your ripple" when ripple hit the first sell off @ .87, then a little after, they gave the same kind of tutorial but on "how to buy ripple" at like 2.50. Lol. So I guess we wait for the big money to play their chess games...
I do agree that Charlie Lee is not the best marketer though, but I do believe he will provide more value to this project soon. As Litecoin is an asset with a multi-billion dollar market cap, there is a very large incentive to maintain continuous improvement. Enhancing this project only enhances their wealth. We're all in it for the same reason haha
With all that said, LTC has a decent amount of support at ~ .017, so let's see if it can consolidate, , 'ppreciate your time