$LTC / $BTC My LTCBTC Elliott Theory TA story A thread 🧵 For years, I have been trying to interpret the LTC/BTC chart without knowing how to do it overwhelmed by having to deal with the seemingly unstoppable multi-year downtrend, which became popular as a source of ridicule for too long now by those who love to mock Litecoin and the community These damned sheep wouldn't recognize a reversal even if they came back from the future. In fact, they are trend traders, and like all trend traders, they follow already established movements, simpler method but with the risk of often arrive too late to the party. Reversal trader on the other side are crazy people. They say trend is your friend, in this case, our nightmare. After years of studying charts, I began studying Elliott, and I understood the importance of the Golden Pocket, between 0.618 and 0.66. Only to realize one day that the answer had been right in front of me all along. Apparently. The price was there, right on the most important fib level between 0.618 and 0.66. The price action confirmed the validity of the ratio's measurement points, and for those who don't know because they are not familiar with Elliott waves, this ratio is the most likely point for the completion of a wave 2. Wave 2 is a trader's true treasure, the most valuable point of a retracement because it precedes wave 3, the most powerful and impulsive wave. I was euphoric. “Is wave 3 coming? Is it really possible that Litecoin's higher-degree trend against Bitcoin is actually bullish?” Deep down, I knew, I knew from my fundamental insights that an asset with a huge market cap like Bitcoin could not outperform an asset like Litecoin forever. However, seeing with my own eyes the possibility of justifying this insight with technical analysis made me excited. At first, not being very familiar with Elliott's theory, I treated the movement as a standard impulse, achieving a result that would have made even the master himself faint even using the most bearish wave 3 fib targets. It was impossible to believe it. Litecoin was expected to surpass Bitcoin and be #1. I'm not here to sell hopium, but to tell my LTCBTC TA story so yes, do not take this scenario too seriously: