FX.co ★ Elliott wave analysis of Litecoin for November 23, 2022

We have been tracking Litecoin for quite a while now and have been waiting for it to break above key resistance at 74.25 after it completed an expanding ending diagonal of 73.21. A quick but very deep correction followed in the next two days to complete wave 2 at 47.51. Think well about it that you might have seen this pattern before. I have used it to show where we were in Apple as we tracked it to the top. The pattern was described by Jess Livermore and it is called an "Accumulation Cylinder". Once complete as we saw on November 9, it should see prices fly higher in the weeks/months ahead.

Already having a very good idea of what follows in the future is a dream scenario. According to another quote from Livermore, he said " There is a time for buying and a time for selling and a time for going fishing" and this is the time for going fishing and letting the accumulation cylinder do its job.