SUMMARY
I've frequently stated that Bitcoin is the moon that moves the tides of the Cryptosphere ocean and that all Altcoins swam in it. Another was that when Bitcoin sneezes, then the Altcoins catch the flu. So, yes, Bitcoin is moving the markets and so just about every coin is following in its footsteps.
The below chart shows LiteCoin (LTC) with a decending wedbe pattern and also likely to generate one more lower low IF the upper line of the triangle repels the price back down. The overall pattern is quite bullish, once complete and confirmation will require a breakout from the contracting lines. So where exactly is the bottom? I don't know and nobody knows. To ask for certainty in a game of probability is not the right request. Rather, the most common question should be what are the probable outcomes? I believe there is a distinct a,b,c corrective waves and that wave c is subdividing into fives. That subdivision shows about $110 to $100 as a potential bottom. Therefore, aligning a buy ladder to be cast in that range could be beneficial.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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