Crypto Contest May 1: Litex

Litex (Huobi: LXTBTC) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, Litex began a wave one advance on January 29. The red wave one finished on March 12, and the red wave two correction ended on March 23. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 17, and the red wave four correction ended on April 27. If this wave count is correct, Litex should be heading next towards the April 17 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Litex is a fully decentralized

About the author: Markus Aarnio

I have 20 years of investing experience. I have traded stocks, commodities, cryptocurrencies, and forex markets.