Seems like LTC finished wave 1 and 2 and should be going for the wave 3 soon. I bought in at the .618 and .786 levels and holding until wave 3 hits to unload half. Reason for only unloading half is that, I'm thinking wave 4 retracement will more likely be a side way movement and compensate for the deep 2 retracement. Seems like the 5 wave structure will finish in the next 2 weeks or so lining up with BTC hitting target and retracing once again.
Note
We are in a very long drawn side ways movement, but we are not breaking down further than the fib levels. I'm building up even a bigger position here and possibly my biggest bag. My feeling is that the R:R is so great on LTC compared to other coins that already ran 100% plus. LTC is still a household name and I don't think I can believe it will stay in the gutters the whole alt cycle. It did have a nice move up from the low but we are back to that low again which makes me believe that was Wave 1 and the massive and sudden wave 3 is comingNote
After a long side way movement, we finally broke out. Already broke through previous swing high and fighting resistance levels as it moves. Will be taking profit as we approach 2million satoshi levels and beyond.Note
Wow my timeline was off by alot LOL. Still targeting around 2mil satoshi for profit taking but the retracement of this subwave 4 of wave 3 is a bit worrisome, but LTC has been retracing very deep for most of its corrections.
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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.