D4rkEnergY is back on an update on Litecoin. As you can see from D4s earlier chart on LTCUSD it went EXACTLY as predicted. We went down and the bear flag completed, after that we had a bounce and went up again and hit the huge resistance level at the 50 % Fibonacchi Retracement Level. Thereafter we went sideways for a while, and finally we broke through after squeezing the bears into the ascending triangle.... The bears gave finally up!
As you can see on the new 1h LTCUSD Chart, a beautiful Bull Flag is taking form. So, the big question is, will the bulls be able to make a last pump up to the 38,2% Fib Resistance Level? Or was the flag pole the end of our Elliot Wave cycle (EW5)?
If we take an over all look, at the EW-Cycle we haven't retraced that much, which normally predict that we are done and now need an Elliot Wawe Correction A-B-C. On the other hand, if we take a look at the shorter time frames (RSI, Volume and MACD), we still have enough room to finish our flag pattern and go a little higher before a correction is needed.
D4rkEnergY predicts it is more likely we will go higher and have a last pump! Let's see..
Thanks D4. Note: If you're prediciting we go higher, why tag this idea as "SHORT"?
D4rkEnergY
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@houseofari, Yea, I have only been making public charts in here for 5 days. It was pretty unclear for me what it meant since you can choose between short, neutral or long. Thought It was the time frame for the prediction. Not if it was short or long position.