Volume:huge selling climax at the left shoulder then volume dies down until finally it picks up when the price goes back up to the neckline for the first time. Then again volume dies down, and if you compare the volume in forming the head compared to the first climax, it is MUCH lower. Then as the price approaches the neckline for a second time we get the most volume since the first selling climax. Then volume dies down again as we come down for the right shoulder. And then on the next green candle it finally comes back trumping the volume on the way down.
BBands: since wave 1 down took us below the middle bb line and came back up to make it resistance, we spent a LONG time underneath. Eventually we came back up to test it and failed for the first neckline test (and wave a). Then finally on the second neckline attack we broke through this major resistance, and now we have come back down to test it and (I expect) make it support.
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Bullish divergence on 1d stoch rsi:
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It looks like that 1d candle had the most volume since the bubble over a year ago.
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Also, another bullish div on the 1d stoch rsi:
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Look at the bollinger band width, it's also very tight on the ltc/cny 1d chart, also I have updated the EW count, this looks more accurate although EW is not my expertise:
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I'm thinking we get something like this over the next week or two:
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Since we broke a bit further down I had to rethink the count. It seems like all of that could have been a divergent abcde triangle for wave 4, and we have just completed wave 5 considering the bullish divergence forming: <deleted>
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AndreyDrogal
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Fail as usual.
nimbus
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recently I start to get to get some fundamental analysis about ltc, try to get the roadmap or development of it , but the consequence's really sad.
no new appliance, no new features, no powerful dev group but just several parttime students, and charlie lee and other devs' just know bluffing "make litecoin great again" while code nothing. seems the future of ltc not that promising, at least compared with eth or some other new feather coins.
even thought technically ltc/fiat or ltc/btc lies in the bottom phase, the bottom can last even longer, for some other bearish years.
possibly it's better no invest more in some other items.
ltc-joe
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I don't necessarily disagree about the development but ya the big thing is whether or not the code comes to fruition, but there are exciting things being considered, if confidential transactions was implementing that be huge, but well see if it does. Anyway, i'm mostly focusing on ta, in the past ltc has been prone to big speculation from china, it looks to be at a pivotal point here, if it breaks down that would not be a good sign. So lets see what happens over the next few days. And ya i mean I thin there is potential for a great trade if this turns into a bull market, but thats different from an "investment for the long term.
nimbus
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actually i have been accumulate long position during the past half year, with several fundamental reasons. 1, great hashrate endorsed; 2,one of the only two coins with future trading; 3,help log the ledger book for dogecoin. these three consist the fundamental reasons why I hold ltcs.
however, when I look more at the development, I do feel sad. This dev team just talk too much while code too little, they think too much about the idea of CT, about the idea of litecoins in envelope, they just code shit.
feel quite frustrated about that, even though I'm still holding my long position.
ltc-joe
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Well said, i'm pretty much on the same page, as u mentioned the hashrate--to me the fact that ltc has been dependable for so many years with regard to the mining network it has bootstrapped and the consistently high cost to 51% attack it--this alone to me supports that ltc should have a place in the market. And yes also the futures market/fact that it's price is dominated by china like btc gives it the huge potential for big rallies in price, really there is no other alt that is influenced by china like ltc is. So, ya at the end of the day I am frustrated with the development as well, which is why I think the price will rally in spite of it rather than because of it, or due to promises made that may or may not be kept down the line, we shall see : )