I have to say guys, LTC and a few other coins have performed even better than their competitors when it comes to Elliott Wave Counts.
We can clearly see that a text book beautiful 5 wave impulse off the bottom and a clear abc correction took place. It also hit the number 2 trend line when it comes to hyper waves.
This looks really good (IF!!!!!) BTC and the whole market has reached a bottom. Obviously this trend line isn't as strong as the one in yellow , so there is still a possibility that we have a multi month bear market and all coins just deflate for months. So with that being said, with some good money management and risk analysis you can put your stops right below wave 2 of this beginning impulse up. This is the beauty of EW and trend line analysis.
There are other alts that bounced off the trend lines, but many look corrective instead of impulsive, so caution is warranted.
We shall see in a few weeks after wave and volume analysis
We can clearly see that a text book beautiful 5 wave impulse off the bottom and a clear abc correction took place. It also hit the number 2 trend line when it comes to hyper waves.
This looks really good (IF!!!!!) BTC and the whole market has reached a bottom. Obviously this trend line isn't as strong as the one in yellow , so there is still a possibility that we have a multi month bear market and all coins just deflate for months. So with that being said, with some good money management and risk analysis you can put your stops right below wave 2 of this beginning impulse up. This is the beauty of EW and trend line analysis.
There are other alts that bounced off the trend lines, but many look corrective instead of impulsive, so caution is warranted.
We shall see in a few weeks after wave and volume analysis
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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.