COINBASE:LTCUSD   Litecoin / U.S. Dollar
I'm bullish on LTC. They have Litepay coming out late February and Charlie Lee. Can't be bad! I added to my bag at $230 which is slightly annoying because I thought it was heading to the $200 from my analysis. I should have been more confident in my strategy I guess? On to Elliott waves , I have a bone of contention with my correction ABCDE retracement. The area highlighted in orange goes against some of the key rules you should apple to Elliott waves . I ended up ignoring it counting it down to an anomaly in the chart. What do you guys think? Have I drawn it wrong? I'm always looking to improve my understanding so any constructive advice would be much appreciated.
Comment: https://s3.amazonaws.com/tradingview/sna...
Okay! So now the chart has developed a little bit I thought I should update my thoughts.

The chart looks like we could be looking at another correction.
As you can see from the updated chart a bearish flag is forming with quite significant potential drop in price.

Comments

That Big-Long-Red-Candle on 12-22-2017 was a "Waterfall event," caused by Big Financials/Wall-Street getting in; they bought up so much prior to 12-22-2017 then in one big shot, fired it all...pushing down prices! I do believe that they will try this tactic again, and again. However, each time the Big Financials/Wall-Street will have to buy up more and more Cryptos at cheaper prices, so HODL and don't let go! They know where this is going and they are trying really hard to control this market and shake Cryptos free from those who are weak/impatient who refuse to wait! Looks like the same thing is happening again today 1-16-2018?! Its kind of funny when the large Crypto Exchanges put limits on how much you can BUY, but they don't care about limiting how much you can SELL...smells fishy; like the exchanges are creating bottlenecks, preventing these Markets from taking off; i.e., they are trying to SLOW down the Crypto Rocket Ships. Without futures contracts, etfs, and derivatives, this may be the best way to suppress?! The Volume of people trying to get into Cryptos is FAR GREATER than those trying to SELL...therefore, prices should be MUCH HIGHER than they are...in the meantime, BUY, BUY, BUY!!!
+1 Reply
12/22 might be an outlier, ok to drop it in my opinion. Eth had one of those too but much much lower. Good chart. Cheers!
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I agree with you!
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