LTC/BTC Bearish Alt Bat

BITFINEX:LTCBTC   Litecoin / Bitcoin
Giving another try to harmonic patterns , this time on Litecoin paired with Bitcoin             , since I think BTC             ultimately drives most crypto prices and might behave better than a USD pair (maybe).
Also, starting earlier in the pattern to maximize usefulness, so a lot of this is purely speculative and is only one realization of the Bearish Alt Bat pattern. A couple of the lengths are listed as ranges, so I have gone so far with the maximum of the range, but will adjust as the pattern unfolds and does or doesn't follow these. I might also add a pattern with the minimums or some mix to see the possible outcomes.

Ultimately I'm bullish on the chikun, but I wanted to present a "bearish" alternative since most people seem pretty bullish on Litecoin. This harmonic seems like a pretty bullish bear though.
Bình luận: Times are purely guesses too, just a rough idea of when the event might happen.
Bình luận: I realized it probably already has passed point B, so we're now headed down to C, updated the pattern a bit .
Bình luận: altered the timeframe a bit, it isn't likely it would take nearly as long as I had guessed, price points are basically the same.
Bình luận: I don't think we've hit Point C yet, but it's possible we're very close to the reversal point. A price point of 0.01570 would still fit the Bearish Alt Bat pattern - this could happen as soon as North America wakes up and starts trading after noticing the pumps going on for BTC (within a couple hours).

Bình luận: For that last update I put point C at the 78.6% Fib retracement of AB, which seems like a pretty likely place for it to occur.
Bình luận: Having said.. I'll be closing my short pretty soon just in case.
Bình luận: I'll wait a little bit to update the chart, but I think we're now heading back up on CD.
Bình luận: Here is an updated chart, I'm thinking we will reverse around ~7 PM MST on July 23 based on Fib time, at a price of around 0.02235.
Bình luận: Depending how fast we go up from here, a Bullish 5-0 Pattern could be what we're seeing on a smaller scale, or Bullish Three Drives. Either way, we should continue up with a potential retrace at Point C to D, and then continue on upwards.

Bullish 5-0

Bullish Three Drives
Bình luận: Either way it should be done its consolidation pretty quick and make a move
Bình luận: A bit late on seeing this one... Bearish Gartley
Bình luận: Couple more potential harmonicss.

Bình luận: Final point - I'm assuming this won't play out as I'd hoped and am probably going to just accept that. This is a falling wedge and I'm pretty sure we're going to end up going down. Having said, might be a good shorting opportunity soon, but I probably won't continue to update this unless it gets back on track.

Good luck guys (if anyone is reading this)!
Bình luận: Bearish wedge (its a rising wedge, I always mix up the name and say falling wedge). Anyways, down we go...
Thanks brother! Much appreciated!
Phản hồi
Korastiz DJLoveHz
@DJLoveHz, Anytime! Hopefully next time it works out a bit better... I'm pretty sure it'll jump off the cliff in the next few hours though, haha.
Phản hồi
@Korastiz, hi, do you believe the price will just dropping to the support zone day 24 of July and then, after this day will going up to the resistence?
Phản hồi
Korastiz filipevalentim
@filipevalentim, Hi, I originally thought we'd be hitting the resistance on the 24th of July, but now I'm thinking differently. I think we are still in a corrective wave for LTC and will be doing a bit more sideways action. Once BTC break 3k though, I think we'll be back into bullish LTC and heading upwards into the 0.02+ range. Expecting this to happen in the next couple days, but before August 1st for sure.
+1 Phản hồi
Korastiz Korastiz
@Korastiz, Right now though I'm neither long nor short on LTC until it finishes this chop that it's going through.
Phản hồi
You wrote that "Possivle Reversal Time" is 'July 23 7PM', but you mean 'July 24 7PM ' ?
And Please let me know the time zone of where you live.
because I want to know the time in Japan.
( I am Japanese and live in Tokyo. )

I am not good at English. So please be generous in finding my rude expressions, if any .
Phản hồi
@rig0, You're definitely right, sorry long night of no sleep :)... hopefully worth it though.. Thanks for catching that.

I'm in MST (Mountain Standard Time) which in UST-7, currently 9:30 AM. The time is just a guess though, I just wanted to take a stab at when it might happen.
Phản hồi
Korastiz Korastiz
@Korastiz, If BTC ends up not breaking out here soon, we might actually go down to test the ~0.01575 or lower mark. I think we will be okay, but, things are pretty volatile right now.
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Korastiz Korastiz
@Korastiz, That is assuming LTC follows BTC which it tends to typically do in an overall trend sense.
Phản hồi
rig0 Korastiz
@Korastiz, 16 hours behind Tokyo! Thank you very much ! And have a nice dream!
Phản hồi
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