I find it hard to believe I'm saying this given the current inflated values of LTC, but according to my analysis we're in a minuette (magenta) wave iii of a subminor wave iii(orange) of a minor wave 3 (blue).
Therefore the price may yet have some way to go over the medium term. However, the magenta iii wave looks about ready to end so a small retrace is about to come in.
Calling it is very dangerous especially when shorting on futures, so buying the dip may be more sensible (I know! ). Bear in mind any (magenta) wave v could be short before a more significant iv wave (orange retrace).
Please check price action and other indicators, and come to your own conclusions before trading, no guarantees here (otherwise I'd be on a beach somewhere). Most importantly be careful out there, there is potential to lose money very quickly in this market.
I just thought I would add this, which makes this market very scary indeed!
blog.bitmex.com/chin...in-via-ponzi-scheme/
Therefore the price may yet have some way to go over the medium term. However, the magenta iii wave looks about ready to end so a small retrace is about to come in.
Calling it is very dangerous especially when shorting on futures, so buying the dip may be more sensible (I know! ). Bear in mind any (magenta) wave v could be short before a more significant iv wave (orange retrace).
Please check price action and other indicators, and come to your own conclusions before trading, no guarantees here (otherwise I'd be on a beach somewhere). Most importantly be careful out there, there is potential to lose money very quickly in this market.
I just thought I would add this, which makes this market very scary indeed!
blog.bitmex.com/chin...in-via-ponzi-scheme/