What a perfect bounce on Cryptos and also BITFINEX:LTCUSD ! As you know we were expected a three-wave A-B-C correction down to ideal 61,8% Fibo. retracement, which seems to be completed after perfectly reached our support projections. It's very important to look at correlations between cryptocurrencies and we talked a lot about that in past updates. So, after nice bounce, it's time for Bulls and after completed correction, we always look for a minimum three-wave recovery, until we see it's confirmed and as you can see, it's already trading higher for wave c/iii, but for confirmation we need something more! First evidence would be a break above channel resistance line, but we strongly suggest to wait for a break above 217 confirmation level, which could lead into wave iii towards 230 level or maybe even higher into new highs above 252 level, so currently we remain as long as it's trading above 158.5 level!
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Bitcoin probably had an impulsive wave up since 6k, but everything else points to an extended WXYXZ for the second wave down, indecision, high volume only on bounces and it slowly declines as the price goes up.
About LTC, side ways 2, deep 4th, triangle on 4th to confirm the volume, and not even retraced .618 yet. Golden pocket zone is below 200, enough for not getting into territory of 1 (not that this means anything, or invalidates something). No disrespect about your point of view, but i personally dont see 5 waves down on that C wave.