The main reason I love markets it is because of market psychology. It's funny how people are more willing to buy at $370 per coin, but after the price corrects they lose interest. A lot of them, buy at the top and sell on the last leg down. Let's try to do the opposite.
This is the time when I get excited, to invest when there is a discount.
Litecoin reached all time high at $370 on December 19th. First Elliott wave was so impulsive, a longer correction is normal. My view is that there is a ABC correction, before next bull run. Wave C is impulsive, targeting 161.8 extension $117.
Buying zone is between 161.8% extension at $117 and 100% wave C extension at $86.50. Since it is impossible to pick the bottom, ideally looking to buy close to $100. Targeting another all time high.
Disclaimer: The information contained herein is author's opinion, does not purport to be comprehensive and is strictly for information purposes only. This is not a financial advice. It should not be regarded as investment/trading advice.
