LTC correction is not over yet, but we gettting a small PUMP
Updated
Litecoin like all the other cryptocurrencies has been hit hard in the last couple of days, we have created new lows for the year and it seems the pain is not over yet.
From the looks of it, LTC is in a big wave down to the $20's, maybe even the teens. If my TA is accurate, we should see a pump up to about 50% - 61.8% of the minor ABC wave that started around the beginning of September. Which is the X of the Intermediate WXY wave. This should put LTC at around $55 - $60's. At this time we will start a corrective wave C which should bring us down to the end of the WXY wave and the $20 levels. At the moment LTC hits the $20 level, we can say that the major 5 wave correction that started back on December 18th would be completed and a very big ABC corrective wave up will start. Usually the retracement of an entire 5 wave is 61.8%, so the ABC wave should bring LTC back up to the $236 or so, but this will take months before it happens.
Good luck with your investment and your trades.
From the looks of it, LTC is in a big wave down to the $20's, maybe even the teens. If my TA is accurate, we should see a pump up to about 50% - 61.8% of the minor ABC wave that started around the beginning of September. Which is the X of the Intermediate WXY wave. This should put LTC at around $55 - $60's. At this time we will start a corrective wave C which should bring us down to the end of the WXY wave and the $20 levels. At the moment LTC hits the $20 level, we can say that the major 5 wave correction that started back on December 18th would be completed and a very big ABC corrective wave up will start. Usually the retracement of an entire 5 wave is 61.8%, so the ABC wave should bring LTC back up to the $236 or so, but this will take months before it happens.
Good luck with your investment and your trades.
Note
LTC is so bearish it didn't even bounce up it just kept moving down to the low $20's.From the looks of if, $20 call will be hit and maybe even drop a bit lower before any big bounce.
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