If this chart is correct, we have an incoming 5th wave.
LTC like many alts are impacted by BTC .
BTC seems to be in a consolidation channel if it hugs the 9.7-10.8 areas.
If that is the case, it's good news for ALTs to go on a run.
Some ALTs are already thinking about doing this.
If BTC drops below 9.6, it's back to bear.
This corrective C's and end of wave (4) has a couple of paths:
- .5 retrace of BLUE wave (3) which happens about 60% of the time (at $198).
- .68 retrace of BLUE wave (3) which happens about 15% off the time (at $184).
Targets at $268, $298, $347.
Ladder your buys. Never try to catch the knife.