LTC (LITECOIN): Mid-Day Update: Short & Longer Term Perspectives

in #bitcoin8 years ago

SUMMARY

A redraw of the correction into a bullish downward symmetrical triangle is quite impressive because of near termination status. It's almost done. The early recovery of the September correction also looked very corrective in that it seemed very three wavish. The breach occurred and thus far remains decisive.

One reason why triangles are quite common because it allows the price to become time pacman.


The red ABC correction is a FLAT with subwaves showing the 3,3,5 in precision. It's nothing new.

This is significant because it confirmed the depletion of sellers to the extent that basically not a seller could be found.


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