Litecoin (LTC) Correction 0.78 Fibonacci Target of $124

SUMMARY

Litecoin (LTC) has also been making lower lows, but incrementally and not at all as crash scenario. This decline is a very incremental, methodical, coordinated, controlled decline that is so far adhereing to pattern and Elliott Wave count. Similar to Bitcoin, LTC is also showing a wedge fractal. The Elliott Wave count for LTC still remains as a larger degree of trend 1 and 2 where the blue impulse is the subwave set for 1 and the current wedge's abc are the subwaves for 2.

It's quite likely that LTC is gunning for the 0.78 Fibonacci zone and that's at the $124 level. IF that is breached; then the next Fib area is the 0.88 but price is a bit above that level for now. The ZigZag 5,3,5 is still in execution. I believe the terminal end of this minor correction is very close.

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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