Litecoin Corrective Elliott Wave + Channel Breakout

7 ก.ย. 2017

Caught this a little late, but we have a breakout of the trending channel encompassing the first Elliott Wave that appears to be coinciding with the end of the first major wave and the start of the corrective ABC wave. This correction suggests a wave 2 target between the fibonacci 1.0 wave A extension ($73) and the fibonacci 1.618 wave A extension ($68). In addition, if we employ suggested Elliot Wave fibonacci retracements of the first wave we get a 0.5 retracement to $71 and a 0.618 retracement to $69.

Target: $68-$73