It appears that Litecoin is breaking up from a non-limiting contracting triangle, which may be wave-(e) of a larger neutral triangle. If this gets confirmed by breaking over 70 USD in the next few days then this is very likely to head towards ATH in the next month, and could go as high as 150 USD before seeing a major correction. This "major correction" will likely be bigger and longer than the one we experienced in September, it will likely be of the size and severity of the drop we saw in 2014, however, the recovery from that drop will likely be even stronger than the bull run we've had from 2015 until now. For now though, the drop we saw in september was not powerful enough to begin a new long-term bear market, and as long as 54 support holds and we continue to climb from here,there's a very good chance we break ATH by next month, and continue up to at least 150 over the next few months. Bitcoin tends to lead the majority of the altcoin market, and so we'll likely see many coins following in Bitcoin's wake now that it has broken 5500. We also appear to be nearing the end of various elliott wave corrections on many different cryptocurrencies simultaneously, which is a good sign the entire cryptocurrency market is about to see some very large gains, like what we experienced a few months ago.
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Support is still holding for now, looks like we're forming a symmetrical pattern and not a contracting triangle. I will publish an updated chart soon when the pattern is nearing the end. This should still break up eventually, probably start heading towards ATH in the next couple weeks. This is likely a low price for the month. Patience is key. Let the weak hands sell.
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