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Demonstrating Elliot Wave with Ichimoku

BITFINEX:LTCUSD   Litecoin / Dollar
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Looking back on the price action from the last major low of LTCUSD             an Elliot Wave pattern and Ichimoku wave pattern have taken shape.

1st Wave: 3.60 -> 4.77
2nd Wave: 4.77 -> 4.43
3rd Wave: 4.43 -> 6.18
4th Wave: 6.18 -> 4.69 (to the high of the 1st Wave)
5th Wave: 4.69 -> 6.18 (projected)

If you notice, the Elliot wave matched the cannon description of the pattern with the 4th wave retesting the high of the 1st wave which was also the 50% retracement . This level additionally matched with the bottom of the Ichimoku cloud .

Now I would project the 5th wave to have a high probability of retesting the high but a low probability of breaking it. LTCUSD             remains in an unbroken downtrend since April 2014. There is no indication of bullishness in this alt coin with any high probability.
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