So, where are we at? We are on the C portion of an ABC correction and I'm seeing a possible bounce of the 55 EMA at $180.
Let's say that this is not the end of the correction and we end up in a 5-3-5-3-5 correction that continues to bounce off of the 55 Day EMA . If that's the case, then this correction could take us through the end of January. If not, then this is likely to be the bottom and I would definitely buy back here if you don't have better opportunities. We are seeing a lot of exponential growth in this crypto market right now, and I think Litecoin is just getting started. Expect this baby to continue. That's where our targets 1, 2 and 3 come from.
Targets 1 is definitely achievable for wave 3 and it is actually possible that we reach target 2 on wave 3. If that is the case, then we will hit target 3 on wave 5 later down the road.
We should continue to stay in this bullish RSI zone (+40) on the DAILY RSI and we should see some bouncing going on very soon here. We see this nice bullish downward channel and a bounce here is inevitable, whether it is an impulse wave or not.
The orange lines are fib points where it is possible that we can see rejection, so keep those in mind for wave 3 and 5 targets. For example, if wave 3 gets to $717, then expect wave 5 to reach $1,000 or higher.
$885 by the end of April, possibly $1208. This could be horribly wrong, or horribly right. January will let us know which one it will be, and we'll play by ear from there.
Needless to say, this thing is going UP.
REMINDER: Entry is between $180 and this current price. No Stop Loss
Let's say that this is not the end of the correction and we end up in a 5-3-5-3-5 correction that continues to bounce off of the 55 Day EMA . If that's the case, then this correction could take us through the end of January. If not, then this is likely to be the bottom and I would definitely buy back here if you don't have better opportunities. We are seeing a lot of exponential growth in this crypto market right now, and I think Litecoin is just getting started. Expect this baby to continue. That's where our targets 1, 2 and 3 come from.
Targets 1 is definitely achievable for wave 3 and it is actually possible that we reach target 2 on wave 3. If that is the case, then we will hit target 3 on wave 5 later down the road.
We should continue to stay in this bullish RSI zone (+40) on the DAILY RSI and we should see some bouncing going on very soon here. We see this nice bullish downward channel and a bounce here is inevitable, whether it is an impulse wave or not.
The orange lines are fib points where it is possible that we can see rejection, so keep those in mind for wave 3 and 5 targets. For example, if wave 3 gets to $717, then expect wave 5 to reach $1,000 or higher.
$885 by the end of April, possibly $1208. This could be horribly wrong, or horribly right. January will let us know which one it will be, and we'll play by ear from there.
Needless to say, this thing is going UP.
REMINDER: Entry is between $180 and this current price. No Stop Loss
Note
Think the bottoms are in. Litecoin pretty much hit our correction target. I said 180, it hit 192. And we have Bullish Divergence on Daily MACD. This is a different wave count than the first picture, but this is the correct one (there were some errors on the Tether denomination that altered my projections). The target in this picture is what we will go off of. I will upload another picture that will be the deciding factor if we activate this trade or not.
Note
Trade active
Found stability don't you think? :D So I'm activating the trade (Been active since it was suggested to enter around that $180 mark) just to represent the first impulse wave. But I want to keep in mind that I'm very bearish on Bitcoin right now and I don't know how this will handle that. Trade will remain active whether or not Litecoin retraces below 220.
Note
Followers please read, even if you don't want to trade Litecoin!
LITECOIN: Still Bullish (Likely to be bullish on any big trade i've made like these lol) So we are still on the ABCDE portion of the correction and have not yet seen our first impulse wave. Target is still at least $560.
OTHER: I'm in far too many trades now. So there are a few ones that I am likely just not be mindful of. So if you all would like updates, just comment and I will be happy to show where i THINK things are and where they will go.
Right now, I'm likely to just trade the ones with the most potential in my eyes ETC, REDDCoin, Monacoin, NXT, Vertcoin, Verge and of course Bitcoin (I will always update Bitcoin because it runs this market).
I still think OMG, Civic, Dash, Litecoin and WHATEVER else i did are wonderful picks with a LOT of potential, but the ones up north are the ones I'm focused on. I honestly am having a hard time figuring out which ones were the best to choose.
I will definitely do a core portfolio analysis on Cardano, Stellar, and WAVES. Dash, Bitcoin Cash, Ripple and Litecoin are also in there, but nearly all of those are on tight ropes as they are on the last 5th wave. So I will definitely take profits and restart my long positions a little later down the road. Other core portfolio pics include Vertcoin and NXT. I'm trading Verge and haven't officially added it to my core port just because I haven't actually done fundamental analysis on it yet. I'm just swing trading it now.
So, if you guys need updates on things I'm not paying attention to, hit me up. I could even do some analysis on coins you all like (if you want), if i have time. I'm hitting it hard these next 2 weeks like i have been the past week and half just because class resumes soon, and so do my other commitments, and my time for this will decrease up until the summer.
Let's make some mula.
Note
Forgot to mention for Litecoin! If we fail to stay above that blue support, then we are likely to hit the bottom support line. If you break the white resistance, then we are likely to go up from there! :)Note
Two updates coming. First one. We are seeing rapid growth in the Crypto Community. 2018 will no doubt be the year of cryptos. I don't know how long it will keep up, I will will continue to use these strategies until I see bullishness slow down. Right now, there are NO signs of that.
With this update, I'm showing a possible second target for this wave 5. I'm using linear progression in the slope of the waves. It's been working so far. So The second target I have here is $772. It's seeming pretty possible. So that's a 300% gain from my recommended entry point at $180-200 during the correction. Patience will reward you in this market. Small target updates are coming.
Note
Shout out to my strength coach Dak. I put him on to cryptocurrencies and I know he's nervous as hell right now hahahaha. Dak if you're reading this I promise I'm going to get my weight back up.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.