Litecoin sold off from a high of $375.00 USD on Dec. 19, 2017. The current movement downwards which appears not yet complete can be described as a W-X-Y Elliott Wave Structure.
Path of possible price trajectory is shown by the black arrow before Litecoin can sustain any bull move. A close below $107.63 should see LTCUSD probably target $57, at which point wave Y = 161.8% wave W, which is an acceptable Elliot Wave projection for a W-X-Y structure.
Above all, I have a bullish bias for LTCUSD and would wait to see how things shape up before going LONG. Patience is very important in trading. Better to let the market show its hand first.
https://cryptotrader.investments/blog/
Path of possible price trajectory is shown by the black arrow before Litecoin can sustain any bull move. A close below $107.63 should see LTCUSD probably target $57, at which point wave Y = 161.8% wave W, which is an acceptable Elliot Wave projection for a W-X-Y structure.
Above all, I have a bullish bias for LTCUSD and would wait to see how things shape up before going LONG. Patience is very important in trading. Better to let the market show its hand first.
https://cryptotrader.investments/blog/
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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.
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.