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Ltcusdsell

LTC short to 203 1) The five-wave Elliott wave series started on December 10th at $75 and ended at 337 on Apr 17th giving a good 4-month run-up in a beautiful 5 wave series, here are few confirmations why I think this is a 5 wave series: a) Wave 1 started low at $70 b) Wave 2 is a zig-zag correction of W1 at 61.8% correction at $119 c) Wave 3 extended a little over 100% of Wave 1 to $246 d) Wave 4 is a zig-zag correction but sine Wave 2 is a longer correction, Wave 4 is a shorter correction ending around $153 e) Since Wave 1 & Wave 3 are short waves, Wave 5 is extended to 100% of the distance between the start of Wave 1 & Wave 3 i.e.(246-71=175) so Wave 5 started from $153 and went up by another $175 so total $153+$175=$328 (FIB 100% extension) 2) So, now we know that the perfect 5 wave Elliott series completed, what's next? I think it's going to be a BIG CORRECTIVE WAVE for the whole 5-wave series. Corrective waves are of three types Zig-zag, flat, and triangle correction, and the retracement can be at the following levels also touching the bottom of the long-term monthly channel coming from December 2020 : a) FIB 38.2% - $234 b) FIB 50% - $202 c) FIB 61.8% - $171 e) FIB 78.6% - $125 I personally think that the market will retrace back to FIB 50% retracement at $202 before it picks back up again. Appreciate everyone's feedback, happy trading
BITFINEX:LTCUSDShort
by JAN360
5
Litecoin- Bearish Triangle is formingLTCUSD After reaching the 69.00 level price felled towards 45.33 and got some minor support and bounced up to 49.50 We can see a triangle formation in a bearish trend which will further triggered the selling of litecoin In 4hr timeframe head and shoulders pattern is formed and the bullish trend line is also broken on September 02, 2020 with the long bearish candle The price is just below the 50.00 mark which is a major psychological level and acting as a resistance level. just above at 50.71 the 61.8% Fibonacci level is also acting as a resistance The next target would be 40.00 which is also a major psychological level and low volume area and profit taking area. At this level we can expect minor rebound of LTCUSD. Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision.
COINBASE:LTCUSDShort
by forexorbit
2