cryptowaveman

cryptowaveman

Watching to see how this wave develops. Staying on the sidelines for now. I'm leaning short and seeing it breaking under the previous low based on assuming the previous move down is a Wave 1. Going to wait for a impulse move up before looking to enter unless it progresses well on the downward extensions. At that point, I'll look at entering around the 2 to 2.618...

cryptowaveman

LTC/USD failed to validate my highest probability option I presented yesterday with fibs not being hit and not breaking above the $220. I remain bullish at this time but cautious because still could be looking at another lower low to $100. Right now, I'm planning to buy a position in the .5 to .764 blue fib range ~$175-157. If it moves up before that, I will wait...

cryptowaveman

As I type, LTC/USD is at a turning point. It appears that an ABC correction could be in. I previously was looking for a deeper correction in C, but price action has changed my highest probability view at this time. 3 options right now 1. Fakeout and we are looking for a deeper C back into levels I mentioned previously (2nd) 2. Deeper Correction below the 135 (I...

cryptowaveman

Thought I would take a break from crypto and look at the SP. Everyone has been trying to top call it for past two years so thought I might as well try myself... I'm seeing a 3rd wave top possibility at 2850 and following with a 4th wave correction down to ~$2760-$2,640. Then with a move back up to touch ~$3,000 to complete the larger 3rd wave, which will then...

cryptowaveman Updated 

Going to start averaging in soon. It appears that the 1st and 2nd wave of C has happened and began wave 3 which hit the .618 leading me to look around the 2.0 extension at $174 (in red) or the .5 extension (in blue). Not going completely in on this move if it only goes to .5 extension. Stop losses will be set below .764 at roughly ~$149

cryptowaveman

Overall, LTC/USD is looking bullish. The initial move from $135 to $210 wasn't as impulsive as I would have like with only reaching the 1.382 extension. However, it didn't violate any Elliott wave rules so I remain bullish. I'm currently looking to average into a position and looking for a C corrective wave unless $210 is taken out. If it is, I will wait for the...