Litecoin (LTCUSDT) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Litecoin began a wave one advance on September 15, 2017. The red wave one finished on October 15, 2017, and the red wave two correction ended on November 2, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on December 19, 2017, and the red wave four correction ended on December 22, 2017. If this wave count is correct, Litecoin should be heading next towards the December 19, 2017 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Litecoin is currently in the red wave five (blue sub-wave v). The red wave five began on September 15, 2017.
(Chart courtesy of Tradingview.com (log scale))
In the monthly chart, Litecoin is most likely in the red wave three (blue sub-wave iii).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Litecoin is often referred as silver to Bitcoin's gold. Here is a video trying to explain why Litecoin founder Charlie Lee sold his stake. The video was published on December 20, 2017 by Crypto Spark.
(Source: YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "Litecoin will takeout the December 19, 2017 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Litecoin will drop below the December 22, 2017 low".
If you think Litecoin is in a range, upvote this post and upvote the comment "Litecoin will stay in a trading range between the December 22, 2017 low and the December 19, 2017 peak until February 3".
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