Litecoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Litecoin began a wave one advance on June 26. The wave one finished on June 28, and the wave two correction ended on July 2. The wave three advance finished on July 5, and the wave four correction ended on July 8. If this wave count is correct, Litecoin should be heading next towards the July 5 peak in the wave five.
(Chart courtesy of Tradingview.com)
In the weekly chart, Litecoin is most likely in the wave three (sub-wave iii).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Litecoin will takeout the July 5 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Litecoin will drop below the July 2 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 July 2 low and the July 5 peak until August 12".
You can upvote the comment until 3 PM EST July 13 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.