As you can see, LiteCoin is heading down to finish the 5 wave elliot structure, but first, expect a bounce to the $158/159 region for wave 4 before making its final descent down its path of wave 5 to the $134 - $143 region.
Take profits 1 - $144
Take profits 2 - $135
Stop loss $161 if already in a short.
Otherwise, wait to enter a new short at the $158 - 160 region, then stop loss at $164
We've cleared around 10% profits so far in the past 2 days, let's see if we can get to 20% :-D
Litecoin will continue to track Bitcoin, see my other analysis of Bitcoin below.
Take profits 1 - $144
Take profits 2 - $135
Stop loss $161 if already in a short.
Otherwise, wait to enter a new short at the $158 - 160 region, then stop loss at $164
We've cleared around 10% profits so far in the past 2 days, let's see if we can get to 20% :-D
Litecoin will continue to track Bitcoin, see my other analysis of Bitcoin below.
Note
We nailed take profits 1, wave 4 was much less than expected. Nearly at take profits 1 now
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Note
Mean't to say nearly at take profits 2 now.
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Related publications
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.