Long
Is LTC Really About to Make a Huge Run on BTC? (EW Analysis)
It appears that LTCBTC could potentially be nearing the end of a terminal impulse wave-c, or alternatively an expanding triangle wave-c that is part of a larger triangle. The former is much more likely, though, which means we could be preparing for the largest bullish impulsive wave on LTCBTC ever over the next year. It also means that this is possibly the lowest price that LTCBTC will ever be at, as long as one of the counts here is right.
Right now, the terminal impulse count makes the most sense because seeing an expanding triangle as the wave-c of a larger contracting triangle would be really unlikely. Also, the time considerations for waves (a)(b) and (c) are what you'd expect from a wave-c failure (ie, wave-a is the smallest, wave-b is bigger than wave-a and wave-c is the longest and is a terminal). However, not only is this a wave-c failure it's an irregular failure so that means the implications after this wave are extremely powerful, but the only way to know for sure which wave it actually is, is to see how the wave-c gets retraced. If the wave-c is retraced in 50% or less time than wave-c took to form, then it was most likely a terminal which is part of an irregular failure, but if it gets retraced in more than 50% time then it was probably a expanding triangle and we'll get a wave-e down before finally getting the largest bullish impulsive wave ever. Either way though, this is very likely going to be the bottom (or very close to it) for LTCBTC, and we'll never see these prices again. Also if we do get another impulse up it's hard to say exactly how big it will be but most likely it will be at least as big as wave-b and we'll eventually get more than one after a correction.
Fundamentally, the lack of leadership on Bitcoin, the split on development, the inability to fix the blocksize and lower fees, the threats from big miners and market makers to create a hard fork, the rejection of multiple ETFs, and the stricter regulations from China could cause a lot of people to speculate on Litecoin and other cryptocurrencies while bitcoin begins to fall back. Litecoin has significantly faster transaction times and lower fees and has proven to be safe and reliable for the last 6 years, not many coins have as long of a history as Litecoin. There's a lot of interest in cryptocurrency right now, and speculators have been hungry for altcoins recently while bitcoin has lost a lot of its market cap dominance this year, this could begin to spill over into Litecoin soon as people continue to look for a way to reinvest their BTC.
Right now, the terminal impulse count makes the most sense because seeing an expanding triangle as the wave-c of a larger contracting triangle would be really unlikely. Also, the time considerations for waves (a)(b) and (c) are what you'd expect from a wave-c failure (ie, wave-a is the smallest, wave-b is bigger than wave-a and wave-c is the longest and is a terminal). However, not only is this a wave-c failure it's an irregular failure so that means the implications after this wave are extremely powerful, but the only way to know for sure which wave it actually is, is to see how the wave-c gets retraced. If the wave-c is retraced in 50% or less time than wave-c took to form, then it was most likely a terminal which is part of an irregular failure, but if it gets retraced in more than 50% time then it was probably a expanding triangle and we'll get a wave-e down before finally getting the largest bullish impulsive wave ever. Either way though, this is very likely going to be the bottom (or very close to it) for LTCBTC, and we'll never see these prices again. Also if we do get another impulse up it's hard to say exactly how big it will be but most likely it will be at least as big as wave-b and we'll eventually get more than one after a correction.
Fundamentally, the lack of leadership on Bitcoin, the split on development, the inability to fix the blocksize and lower fees, the threats from big miners and market makers to create a hard fork, the rejection of multiple ETFs, and the stricter regulations from China could cause a lot of people to speculate on Litecoin and other cryptocurrencies while bitcoin begins to fall back. Litecoin has significantly faster transaction times and lower fees and has proven to be safe and reliable for the last 6 years, not many coins have as long of a history as Litecoin. There's a lot of interest in cryptocurrency right now, and speculators have been hungry for altcoins recently while bitcoin has lost a lot of its market cap dominance this year, this could begin to spill over into Litecoin soon as people continue to look for a way to reinvest their BTC.
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