Ok, recently I published super bullish analysis about LTC/USDT and I was also saying, that "this is the best midterm prediction among all the charts in crypto space".
Here is that previous analysis :
However the main problem is, that it really doesn´t fit to other charts. BCH/USDT is super bearish, stocks should be setting top very soon, BTC dominance should be going up very soon and some altcoins are ready to dump very hard (AION,OMG). So I have to look at the chart of LTC/USDT carefully once again and I found only one bearish scenario, but this scenario is quite brutal. Whenever price is going pretty much sideways, it must be correction in uptrend, or some nasty accumulation of shorts and in this accumulation, there is usually one repeating pattern called "1,2" - basically it means, that price made one impulsive wave (1st wave), and then we see correction - 2nd wave. However then we DO NOT see 3rd,4th and 5th wave, but we see another 1st and 2nd wave, BUT these waves are subwaves of that first wave.
And now there are FOUR textbook 1,2 in a row on the chart of LTC/USDT. If this is the really the right count, then LTC will definitely go below previous low at 25 USD.
However I still have no idea, which count is the valid, the first count with bullish triangle or this one with four 1,2. I would be more bearish, if I see some very strong bullish sentiment, but sentiment is still in fear (based on fear index), people are mainly in SHORT on bitmex and this is not environment for some brutal dump. I think if we get below 41,57, this count is the right one and LTC will dump very hard.
I will be checking smaller time frames, checking stocks and when I see some weakness, I will definitely SHORT. (well you can basically short anything, bitcoin, BCH, LTC, but I think altcoins will drop more then BTC). But still bullish scenario is in play, but the conclusion is near.
Here is that previous analysis :
However the main problem is, that it really doesn´t fit to other charts. BCH/USDT is super bearish, stocks should be setting top very soon, BTC dominance should be going up very soon and some altcoins are ready to dump very hard (AION,OMG). So I have to look at the chart of LTC/USDT carefully once again and I found only one bearish scenario, but this scenario is quite brutal. Whenever price is going pretty much sideways, it must be correction in uptrend, or some nasty accumulation of shorts and in this accumulation, there is usually one repeating pattern called "1,2" - basically it means, that price made one impulsive wave (1st wave), and then we see correction - 2nd wave. However then we DO NOT see 3rd,4th and 5th wave, but we see another 1st and 2nd wave, BUT these waves are subwaves of that first wave.
And now there are FOUR textbook 1,2 in a row on the chart of LTC/USDT. If this is the really the right count, then LTC will definitely go below previous low at 25 USD.
However I still have no idea, which count is the valid, the first count with bullish triangle or this one with four 1,2. I would be more bearish, if I see some very strong bullish sentiment, but sentiment is still in fear (based on fear index), people are mainly in SHORT on bitmex and this is not environment for some brutal dump. I think if we get below 41,57, this count is the right one and LTC will dump very hard.
I will be checking smaller time frames, checking stocks and when I see some weakness, I will definitely SHORT. (well you can basically short anything, bitcoin, BCH, LTC, but I think altcoins will drop more then BTC). But still bullish scenario is in play, but the conclusion is near.
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