The pattern forming in the 4H chart for LTC bears strong resemblance to a Bullish Gartley pattern. While this is a buy signal upon pattern completion, another 30% drop in LTC price is required to reach the potential reversal zone. At least for the short-to-mid term, LTC remains bearish.
Potential Reversal Zone: .0064-.0071
A distinct bullish Gartley pattern is nearing completion. Note the .618XA @ midpoint B, and the convergence of AB=CD, the 1.272BC Projection, and the .786XA in the PRZ. A conservative entry here yields a healthy 2.8:1 reward:risk at the first profit target, and a 77% gain at target two. To enter this trade, price must confirm a reversal in the PRZ, at completion...
LTC continues it's climb to complete the fifth wave in our bullish Intermediate Elliott Wave. We have a potential 36% gain, with only a small 4% loss risk. I recommend a tight stop like this, because I don't expect a breakdown below the strong support line at .0091. Hopefully, LTC will correct to test this support line, and we can buy long with a good chance of at...
XRP continues to consolidate near the 78.6% retracement, drawn from wave three. We are nearing completion for the Intermediate Elliott Wave in Purple. Wave 5 is approximately equal to wave 1, so we can draw it up to the 1.272 fib extension, at 8169.
I am long on XRP.
Good entry point (2853-2923)
Target exit (8165)
By looking at the daily candlestick chart, we can draw a Primary Elliott Wave that begins at the interim low, near .035. This trend will likely culminate in a test of the ATH. Currently, at right around .04, it is an excellent buy. Place a stop at .038 to save yourself, in case of a breakdown - you never know with cryptos. A short-term profit target of .068 is...