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Elliotwavecount

Price targets for Wave up from 11k.NOT a professional, just a person who loves TA and is very very good at pattern recognition. Do your own due diligence and make your own decisions. This post is only for speculative/educational purposes. Consult a professional if needed. Good luck trading! If this post saved or made you money, please consider tipping and/or commenting as I lost a decent amount trying to trade this before I realized what was happening. I have another published idea which further explains things. -Wave is doing a large correction (prediction made 12am Feb 21) to 39500 - Wave 5 of higher Wave 3 is ending Diagonal, causing deep correction to 39600 (top of wave 1, it will finish below that if entire large wave is leading wave) - Predicting entire leg up from 11k is a leading diagonal. - Complete wave prediction: 77240 (could be less entire large wave IS a leading wave, as wave 4 will finish inside wave 2 area. Add 19700 to end of wave 4 to find wave 5. -Wave 5 will extend past wave 3 guaranteed. -Wave 3 was 68% of wave 1, applied same % to wave 3 to predict wave 5 (don't know if there are known numbers for this.
Short
by Stockguy0415
8
Litecoin Setup Can Take the Crypto 50% LowerSince the Litecoin Network went live in October 2011 it has exploded in both usage and acceptance among merchants.  With a market cap of approximately 14 billion USD, Litecoin (LTC) has counted among the top ten cryptocurrencies by market capitalization for most of its existence. The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin but lighter in weight. Nearly eleven months ago, the crypto plummeted to as low as $24 during the coronavirus crash. Last week, it reached a high of ~$230 a share. Holding Litecoin for the past 11 months would have resulted in a total gain of 806%. Litecoin Might Stage a 50% Reversal So is Litecoin a buy at its current price of $206 or should we wait for a bigger drop? From an Elliott Wave perspective, there is something to worry about. Litecoin’s daily chart reveals that its 11-month journey is forming a textbook five-wave impulse. From its September 2020 low of $41.3 the market has been advancing in five-wave in wave ((iii)) in circle. The pattern is labeled (i)-(ii)-(iii)-(iv)-(v), where the price has the potential to make a last swing higher to around $230-$260 to complete wave (v) green. If this count is correct, a five-wave impulse pattern will be considered completed in wave ((iii)) in circle. According to the theory, every impulse is followed by a three-wave correction in the opposite direction. Fourth wave corrections usually find support at the previous fourth wave of lower degree, which means a decline back to $145-$118 a coin can be expected. All in all, Litecoin seems like a risky bet to us near the recent high. The chart above suggests that a 40-50% sell-off is plausible once wave (v) is completed. The Good News Once and if this correction really happens, Litecoin would be a screaming buy once again and take the price to a new high. For now, we’ll watch from a safe distance.
Short
by Veejahbee
US Dollar Poised To Start 2021 On A Positive NoteThe U.S. Dollar has lost almost 13% of its value since it topped out at 102.99 in March , it has tumbled as the federal government carried out multiple fiscal rescue programs to buffer the economic damage from the coronavirus lockdown in the first half of the year. The chart above allows us to put U.S. Dollar's entire decline since March 2020 high in the Elliott Wave perspective. The long-term downtrend which took the currency price from 102.99 to around 89.71 in nine months took the shape of a textbook impulse pattern. Its five waves are labeled i-ii-iii-iv-v. US Dollar Bears Are Overstaying Their Welcome What should worry the bears is that according to the Elliott Wave principle, a three-wave correction follows every impulse. Corrections usually erase all of the fifth wave’s gains. For U.S. Dollar, this means a rally to the wave (iv) resistance area near 94.78 can be expected once wave (v) is over. If this analysis is correct, the U.S. dollar could be ready to come out of its funk and start rallying again. What's your view on U.S Dollar Index? Let me know in the comment. Thanks for reading! Veejahbee.
TVC:DXYLong
by Veejahbee
3