ALTcoins like Litecoin (LTC) and Bitcoin Money (BCH) are on the rise and there seems to be extra room for good points.
That stated, I need to word that Whole ALTcoin market cap could also be ending a fifth Elliott wave. So, upside might be restricted and merchants ought to concentrate on a reversal down quickly.
Litecoin is presently breaking above its September worth highs, and is making a much bigger (A)-(B)-(C) corrective rally on a each day chart with room even as much as 300 space. On the 4-hour chart, I see it buying and selling impulsively increased, ideally as a part of a five-wave bullish cycle inside wave (C). Whereas this bodes effectively for additional upside, a transfer beneath 209 would invalidate this rely.
Litecoin 4-hour Elliott Wave Chart & Evaluation
Bitcoin Money is buying and selling sideways on a each day chart, ideally as a part of a bearish triangle in wave (B) and we may even see much more sideways worth motion to finish a five-wave A-B-C-D-E construction.
On the 4-hour chart, we’re monitoring wave “c” of C with room up as excessive because the 700 worth resistance space. Nonetheless, in fact, based on each day rely #2, I nonetheless see an alternate possibility for a much bigger and extra advanced Elliott wave (B) correction that might retest the 800+ worth resistance space… however let’s go step-by-step.
Bitcoin Money 4-hour Elliott Wave Chart & Evaluation
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