Litecoin LTC - Feb 5 Technical Analysis - Possible 56% Gain If Specific Criteria Met

in #litecoin5 years ago

Wave 1-2 Has complete, and a Wave 3 Attempt is Happening
Long Term Bias (6+ months) - VERY Bullish
Medium Term Bias (Days to 2 Weeks) - Bullish
Short Term Bias (A few days) - Neutral to Possible Bullish
Short Term Target (1 Month) - $205
Medium Term Target (2-3 Months) - $245
Long Term Target Target By 2019 - $600+

We first see coinmarket cap with LTC reaching roughly $1 billion 24H volume , which has drastically increased in the past week, which signals that money is being slowly coming back to the crypto market. It also implies that interest at those support levels have increased as well.

Here is the detailed elliot wave count for wave 1-2

We see an ascending triangle pattern forming. There must be a successful close ABOVE $155 for me to enter with confirmation. Otherwise I will not enter.

If this wave DOES NOT fail, and further correction does NOT happen, I must emphasize STRONGLY that these criteria must be met. It would not make sense to enter if the wave fails or to enter before a confirmation uptrend.

Firstly Using OMG an example of simple extension targets, so you can know how target extensions of fib are hit often.

correlate similarities to OmiseGo, we can see OMG form the same type of pattern, where it broke out to fairly exact 1:1 extension target 1, and 1:161.8 extension target 2.

Therefore, long term, it is very possible to see this:

Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

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The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.


Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.


lots of LTC talk with Litepay. I consider them the king of atomic swaps too!
I appreciate your bullishness as a trader . Set up buy orders now is what im thinking :)

Komodo has done more swaps than Litecoin.

I have literally signed up to steemit just so I can upvote you!
Love your TA’s mate, keep them coming!

Thanks for all your hard work. We love you =)

looks like it did not break 155 and is on its way down. BTC correcting more.

Thank you for your analysis.
Good luck@philakonecrypto

Thank you for your generosity and sharing! Incredible specificity!

You're amazing, thank you so much for sharing your hard work and success.

Are you more bullish on Ltc than on btc or eth?

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d

Thanks for being so open with your TA. What a day! congrats! Thanks for inspiring me!

Thanks for all the work u put in ta.

I believe Litecoin has a bright future and strong utility. Despite its name it will weight heavily in your wallet... great stuff @philakonocrypto - keep it coming