LTCUSD at/near a TOP? Litecoin 3-drives ala Impulses done?
Chikun was leading the way for most of Crypto-wide bounce.
Lately it seems to be lagging and lethargic over the last week.
Such a strong wave up needs to retrace to build 'safe' trend.
I see 3 disctinct Impulses and subsequent waves.
Elliott would call it a 12345 (1,3,5 being up 2,4 down)
Others have called it a "3-drives pattern" for decades.
Impulse 1 lost influence after its 4.236
Impulse 2 lost influence after its 5.236
Impulse 3 may be topping at its 4.236
$ 62.62/77 has keys fibs from Impulse 2 and 3.
$ 65.48/50 has the formidable 9.618 of Impulse 1.
$ 67.26/21 could be the target of a "blow-off" top.
Green zones are preliminary estimates of support.
But once a down wave begins, I will have more data.
For now price action around each line is important.
We COULD get a new Impulse yet, so I will be watching for that.
Last run by Chikun DID get 4 Impulses, per this Idea (click here)
But all in all I am pretty convinced we are very near ''a top".
Lately it seems to be lagging and lethargic over the last week.
Such a strong wave up needs to retrace to build 'safe' trend.
I see 3 disctinct Impulses and subsequent waves.
Elliott would call it a 12345 (1,3,5 being up 2,4 down)
Others have called it a "3-drives pattern" for decades.
Impulse 1 lost influence after its 4.236
Impulse 2 lost influence after its 5.236
Impulse 3 may be topping at its 4.236
$ 62.62/77 has keys fibs from Impulse 2 and 3.
$ 65.48/50 has the formidable 9.618 of Impulse 1.
$ 67.26/21 could be the target of a "blow-off" top.
Green zones are preliminary estimates of support.
But once a down wave begins, I will have more data.
For now price action around each line is important.
We COULD get a new Impulse yet, so I will be watching for that.
Last run by Chikun DID get 4 Impulses, per this Idea (click here)
But all in all I am pretty convinced we are very near ''a top".
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