Here comes the explosive move to the upside. Looks like the smart money is finally conceding the direction of the Cryptocurrency marker is up as we here at LARP knew and confidently proclaimed before anyone else as time expired on the bear trend.
It is no secret (as a general statement) the market for alt coins serves as a more volatile derivative market for Bitcoin. Elliot wave analysis confirms our thesis that Litecoin will be the star of all stars. Much can be gleemed from the published chart and annotations but a more detailed text analysis will soon follow in the coming days.
Nice to read you back @ltc-joe! your analysis been missing :)
ltc-joe
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8/28/23 update (Weekly LTC/USD): Litecoin just completed it's own Largest degree Wave 2. Here comes Wave 3 to 10-20k $. Seems like a good buy here, this is financial advice.
6/29/23 update: As mentioned earlier, the overextended downside action in Bitcoin temporarily dragged the whole crypto market down, but this price action could not last (see published chart “Bitcoin: Here comes the next leg up”)…welp it looks like we were right yet again as the Bitcoin market just broke out for its next leg higher and alts are about to catch up and likely outpace in the coming weeks. Additionally, we mentioned how this price action effects the Elliot wave count on LTCUSD, in short, it actually made the count more bullish. Basically, the bears tried to fight nature and of course lost. A similar phenomenon can be seen on the LTCBTC pair. Only a slight adjustment to the count is needed: -A series of a-b a-b’s most effectively account for the new price action, each set of impulses (a-c, a-c) begin with a simple monowave and end with a relatively more timely and complex Wave c. As above so below.
ltc-joe
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6/16/23 Update: Overextension of the pull back in Bitcoin influences a slight adjustment to the count on LTCUSD. Both should snap back to the upside making new highs like a rubber band. Here is the (1d) chart:
fortunekr
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Great analysis but doesn't work on a seriously manipulated market. Too much heavy pressure on ltc to break free.
ltc-joe
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1/ In my last updates on 5/31/2023 I provided an update on the Bitcoin (BTCUSD pair). Today I will be shifting my focus back to Litecoin. While I do hope to provide a more detailed (text) analysis on the LTCUSD pair (published chart) this update will be specifically about the LTCBTC pair. For a bigger picture perspective you can check out the “Litecoin get’s magic Juan’ed” published chart from last year which is *linked in the published chart above that I am replying to. Moving to my LTCBTC ratio update: Here is the chart which as always has many useful detailed text annotations
-While there is a ton of knowledge and education to be had within the chart itself, I will be going even deeper in the following notes breaking it all down wave by wave as I could not fit it all in.
ltc-joe
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@ltc-joe 2/ As the juan know well enough by now, any given Elliot Wave ‘Count’ can be broken, but true understanding can never, ever, be broken. It is in this spirit that I will preface the following notes by mentioning that I will not only be speaking to the specific count at hand but also be delving into parallel concepts which comprise the Beatey method, my own unique system developed to incorporate both predictive and explanatory analysis as well as the relevant accompanying heuristics and/or tricks of the trade. Let us begin.