Thoughts on ltc correction?

COINBASE:LTCUSD   Litecoin / U.S. Dollar
As you can see we have nicely rebounded from the 618 fib levels. The main thing i am trying to figure out is if we are in a simple abc wave or will this extend into something longer?
Comment: We are in a classic zig zag and if this extended further this would be a seriously long correction relative to the timescale. im bullish!
Comment: hello i have an updated chart.

Pay attention to your RSI value!

At the peak of $271 on Dec. 23, it showed signs of being overbought by nearly surpassing the threshold value.

Also, please clarify what the black curve is supposed to represent.

Otherwise, thanks for the idea!
michaelhlee20 michaelhlee20
@michaelhlee20, Correction: The RSI did not "nearly" surpass, it went way above. Sorry didnt look carefully enough.
hi... i bought at 350$. what would you suggest? Sell or wait? Thanks
+1 Reply
srankoin crypto_hodl3
@crypto_hodl3, oh im in the same boat buddy. i bought a lil lower around 316. bless your soul for hodling through all of this. i did too. the most obvious thing from my point of view would be told. christmas is soon. theres no reason why it shouldnt go anything but up. i wish i bought more on the dip :(
@srankoin, thank you.. I hope it touches 360 by new years eve.. Will b good for everyone :)
+1 Reply
srankoin crypto_hodl3
@crypto_hodl3, if it doesnt hit 360 in next 2 days that will be wierd
srankoin crypto_hodl3
@crypto_hodl3, my target is set for the 370 within next day or 2
@srankoin, my target is break even then buy later... dont know what I was thinking when I bought it at 350
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