My attempt to find the next trend.. We are certainly about to complete an expanded flat (3-3-5) Elliot correction wave. Not sure what could be next but this model syncs time cycles with the shape of a combination wave. If the shape follows through with either a type of triangle wave or a zig zag wave then we should have a better idea where we're going after that.
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Correction: If WX (not XY) is a zig zag pattern, then XY should be a triangle. Similarly, if it ends up being a some type of triangle, then a zig zag pattern is more likely.
My prediction is: flat (3-3-5) -> zig zag -> triangle
Also, I think point X might end up at the 0.236 level (~78) , not 0 (~82)
LTC will never be $36 ever again. I don't even think we'll hit $50-51.
telnemri
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@guppy_, ya, unlikely.. triangle ending a triple three combo probably if this holds
Wheelman-
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@telnemri, oops... where do you predict the next support levels are?
altcoiner9
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@guppy_, And here we are touching $46 today, with RSI still quite oversold, and MACD in the negative with decreasing buy supports. Watch out for high $30's my friend.
guppy_
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@altcoiner9, I agree with you and posted such a few hours ago. The market landscape has changed entirely now that the China rumors have been confirmed. I think the 30S are entirely possible since we're talking about billions of dollars pulling out of the market.