Wyckoff analysis of LTCUSD (Litecoin) - bullish accumulation

5 mai 2018

Litecoin and much of alt coin market along with bitcoin appears to potentially have bottomed and is in classic Wyckoff accumulation pattern. A potential breakout here above 420 would mean a run up to ~$700+ next trading range.

So the bull trend is really strong and would expect to see BTC test and break above 11.7k in the coming days/weeks along with alts making runs up to new recent highs as accumulation ensues.

8 mai 2018

Note

Please see my later BTC wyckoff post for chart...

May 8, 2018 update:

almost all major alts now in similar patterns:

1. Short term Wyckoff distribution (black lines/text) which is bearish
2. Longer term Wyckoff accumulation(blue lines/text). If so, we could go sub-6000 to create a better "spring" in $4500-$6000 range with a capitulation that could touch ~$4500 around 78.6% fib. This would achieve the 78.6% fib retracement that we often see on multi-year time frame that occurs with any hypodermic/parabolic bubble break.