Not even gonna count this ish.
LTC is in love with the BB midline. UP, Down, Down, UP...oh wait... back to midline BB?!
Not to mention, that stochRSI should be enough to petrify bears if they look directly at it. @_@
Red and green a separate counts (Green = Bull || Red = Bear)
We could be in a (4) right now for another push higher before down (Green).
Or we could be beginning a nasty path downward.
Both look viable to my at the moment. Typically looking for a ~38.2% retrace on a w4, but this looks like it may end deeper. Obv possible, but lends skepticism, at least imo....
Bullish 4H RSI divergence could be signaling the end of the wave.
Wave 5 of C didn't go quite as far as a normal w5 projection, but if it is a flat correction I wouldn't expect it to.
Blue horizontal ray @ bottom would be my normal expected wave 5 ~target area.
Red count would signify the move has ended.
Green count gives possibility for one more push.
I am tending to think that (3) of c heavily extended, so wave (5) may not have enough strength to push usual wave five targets.
Looking for a clear RSI divergence to confirm the end of the move.
Pink horizontal is ATH. Don't really care about it tbh.
More brainstorming while BTC continues to bore while price is restrained for pockets to load.
Have we overlooked a simple flat correction?
Whether this is part of an overall bear correction, or push towards eventual ATH, we have more up to go.
Sometimes the simplest perspectives grant the clearest views.
There is definitely room for wave C to push a...
Update on possible corrective double combination - More detailed breakdown of waves.
See previous post for comparison (linked).
Why switch to CNY exchange?
Chinese exchanges continue with pre meditative market sells, which is beginning to paint a much uglier effect on USD charts while for the most part CNY remains in tact. Interesting, huh?
Confusing corrective nature has begun to become clear.
Here we have a 'double three': Flat -> Any Three* -> Triangle (W-X-Y).
This fits nicely, as it mimics the nature of the sideways movement we had after the $500 rise in Fall 2015
(See Linked Weekly).
Ending triangle may alter a bit as it completes.
Heavy support on 4H 200 EMA.
Large hidden bullish divergences have formed between the beginning of (1) and the recent drop we have seen. If price can find its way through the falling resistance from local top at ~$450 this should turn quite bullish.
Tracking a possible A-B-C zigzag from the ~$450 local top. Some decent divergences are showing up on the 1H which may begin to resonate into larger time frames. Looks like we will at least make a run to the declining resistance from the drop (Purple Box) and decide from there. Failure to break this resistance should push us further down, possibly through the blue...
Waiting on EWO to cross 0 line for final confirmation, but it looks like we are finishing off the corrective move from topping out in the 300's on our last bullish rise. Time will tell - just watching for now.
A close above the weekly BB (for the first time in a LONG time) will be extremely bullish IMO.
Weekly directional showing up trend is still on.
Squeeze indicator looks ready to pop to the upside.
Should be an interesting week.