Litecoin / TetherUSShort
LTCUSDT - SELL IDEA
On the 45-minute chart for LTC/USDT, Litecoin appears to be in the midst of a corrective wave following a completed five-wave impulsive structure. This presents a possible short opportunity as the correction unfolds.
Key levels to watch:
- The 1.0 Fibonacci extension at $61.89, which could be the first target where the corrective wave (c) might conclude.
- The 1.618 Fibonacci extension at $58.12, which is a deeper target and could represent the full extension of the corrective wave.
The overall trend suggests a bearish continuation in the short term, making this a potential area to consider short positions, with these Fibonacci levels as key zones for taking profits.
Key levels to watch:
- The 1.0 Fibonacci extension at $61.89, which could be the first target where the corrective wave (c) might conclude.
- The 1.618 Fibonacci extension at $58.12, which is a deeper target and could represent the full extension of the corrective wave.
The overall trend suggests a bearish continuation in the short term, making this a potential area to consider short positions, with these Fibonacci levels as key zones for taking profits.
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.
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.