Litecoin (Bittrex: LTCBTC) has broken out of the triangle pattern in the weekly chart.

<img src="https://i.postimg.cc/nhTsCMBb/nimet-n.png" /><br/>

(<em>Chart courtesy of Tradingview.com (log scale)</em>)

<strong>Elliott Wave Analysis</strong>

In Elliott Wave terms, Litecoin began a wave one advance in October 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in February 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Litecoin should be heading next towards the February 2018 peak in the red wave three.

<img src="https://i.postimg.cc/SK3tbSZC/nimet-n2.png" /><br/>

(<em>Chart courtesy of Tradingview.com (log scale)</em>)

Looking at the monthly chart, I believe Litecoin is currently in the red wave three (blue sub-wave iii). The red wave three began in October 2017.

<img src="https://i.postimg.cc/3RDm4pgf/nimet-n4.png" /><br/>

(<em>Chart courtesy of Tradingview.com (log scale)</em>)

<strong>Funnymentals</strong>

Litecoin is money for the Internet age. CoinKorea discussed what was fueling the Litecoin rally on January 5.

https://youtu.be/V6N8SwtKuUA

(<em>Sources: <a href="https://litecoin.com/en/">Litecoin</a> and <a href="https://youtu.be/V6N8SwtKuUA">YouTube</a></em>)

<img src="https://i.postimg.cc/05TMx4LR/steemverify.png" /><br/>

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will takeout the July 2018 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will drop below the December 2018 low".

If you think Litecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Litecoin will stay in a trading range between the December 2018 low and the July 2018 peak until February 11".

<img src="https://i.postimg.cc/vmCM2dfS/nimet-n3.png" /><br/>

(<em>Chart courtesy of Tradingview.com (log scale)</em>)

You can upvote the comment until 3 PM EST January 10 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

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