Hello,
Hindsight it appears LTC has failed to form the proposed 12345 impulse elliott wave Jan 10th but has rather formed a type of ABC bullish pattern instead. Where we are at now it appears to be a corrective bearish ABC pattern.
If we are in another ABC pattern then it looks like LTC is nearing the end of the first stage of wave A. On the 4hr chart I have a retrace of $27.00, wave B at $35.00 and wave C at $22.00. If this pattern holds, then we can expect a bull run after the completion of the proposed ABC pattern.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find the chart helpful please hit the like button. A little encouragement goes a long way. Thank you!
Cheers!
Hindsight it appears LTC has failed to form the proposed 12345 impulse elliott wave Jan 10th but has rather formed a type of ABC bullish pattern instead. Where we are at now it appears to be a corrective bearish ABC pattern.
If we are in another ABC pattern then it looks like LTC is nearing the end of the first stage of wave A. On the 4hr chart I have a retrace of $27.00, wave B at $35.00 and wave C at $22.00. If this pattern holds, then we can expect a bull run after the completion of the proposed ABC pattern.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find the chart helpful please hit the like button. A little encouragement goes a long way. Thank you!
Cheers!
Comment:
I was unable to edit this after hitting the publish button. The chart and data disappeared upon clicking the publish button. I meant to mention that I used the ABCD pattern in place of the ABC for fib ratios.