Litecoin had a nice rally but finished the 5 Elliot wave structure with an extended 5th wave. This indicates that there must be some kind of ABC retracement
The second bearish signal is the double top which indicates that the bulls can't push it higher on the price.
The third signal is the bearishly diverging RSI which was a lot higher on the previous local top, which indicates that the bulls are losing strength.
Looking now for a short term short.
Best regards, Vinacey
The second bearish signal is the double top which indicates that the bulls can't push it higher on the price.
The third signal is the bearishly diverging RSI which was a lot higher on the previous local top, which indicates that the bulls are losing strength.
Looking now for a short term short.
Best regards, Vinacey
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.