LTC is now correcting short term to .618 fib

We are now in the early stage of a correction down to the .618 fib retracement which should land us right around $48.50's.
This is just a correction of the last run from the $41. What this means as that we are still on an uptrend, but first LTC needs to consolidate before the next run up to the $70's

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So LTC surprised us with an extended wave 5, which should of been a surprise considering wave 1 and wave 3 were about the same size, which should of been a sign of the extended wave 5. Never the less we should still see a correction, maybe not down to the $48s like I thought it was going to be, but still around .618 of the entire 5 waves. Should bring us back down to around $51.