LTCUSD Likely Completing Symmetrical Elliott Wave Pattern

7 nov 2017

Based on the new information provided by the market, Litecoin now appears to be in a symmetrical pattern. This is due to the fact that there are 9 adjacent corrective patterns that are similar in time and different in price, wave-(i) is also a symmetrical pattern itself, which is why this pattern seemed to drag on forever. However, now that it is complete we are very likely to begin a major advance towards at least 130, and potentially as high as 200. After this next bullish wave completes, we should finish a triple combination, which is likely wave-e of a much larger expanding triangle. This means that we should see a very large retracement after this next bullish wave is complete. This retracement will likely be of the time and size of the retracement we saw during 2014, and will likely be followed by many other cryptos. Based on the timing it seems that 2018 will likely be a very bad year to be long, but the rest of this year still looks good. More information about the long-term picture can be found on my website below.