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.
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.