Foreign [Music] Welcome to another update video about Litecoin so Litecoin is following the General wave count here to the upside Um for further upside you know we talked About targets around 90 dollars here We've come already to around 84.85 so The uptrend is continuing talked about In the previous video this possibly Being a one two setup Um and as long as we're holding here the Yellow support level that we can focus On higher which is what it did Um my view is however let me just see I Think I want to change the wave count a Little bit Um We talked about this being away three I I will remain focused on that But I think we just push this one to set Up a little bit to the side And we see this entire move That occurred here As a way for and we see the whole the Whole movement here as a wave four Triangle I think that makes more sense Um it doesn't really change the wave Count a lot it just Um works out better from the proportions Yeah and allows us quite nicely to to Account for this strong move up which I consider a Wave 3 because it is so Long and uh it looks sort of rather
Bullet right Um How would we label this well it's Actually quite straightforward then See this as a wave 4 triangle wave a Down Just think here with a down better with B to the upside here Then we had Um from the wave B High to the downside Here a wave C let me just a Yeah C wave then a wave D to the F side And then e wave to the downside and then This is where the Wave 4 ended and then This is where we can start counting for The wave five So here wave one Here a wave 2 Then I would consider this as the wave 3. probably Wave 4 already done to be Honest wave 5 done And I would consider this now No one second this is not is it hasn't Retraced enough has it No this would have to be wave three In the sub wave see you've got a small One two setup three four five so that Would consider the Wave 3 done here now We'd be looking at a wave 4. How far can this come down We can formulate a support area for that As well So it should it has already reached the
Minimum it should do in a way four so it Already could move up from here but as Always it needs to remain primary Expectation to come down a little bit Lower as long as we hold above the 38.2 Percent flip level because the 38.2 flip Level at 30 81.46 is the ideal Target 4084 it could even come down as low as 80.40 but from anywhere in this green Box bear in mind we reached it already We would expect a push higher in a wave Five oops So let me just Make sure we've got it okay wave five And this way five then would finish off Wave 5 in White as well I'm just going to change The wave degree here For the yellow count and it would finish Off wave three In blue Then there should be a wave four and Blue and wave 5 in blue and the way Three ingredients so let's see if we if We do this yeah Focus here Um would remain further on the upside as Long as we're holding the 80 dollar 40 level Target For the White Wave 5. let's see if we Can Get that as well for that we take the Length of the wave one And we add it to the low of the wave 4.
And then the very first Target is 85 51 I know 85 81 we nearly reached that That's the one to one ratio ideally Though I would be looking at the 1.618 Extension that is at 92 dollars okay That would be ideal for this fifth wave In yellow fifth wave of the fifth of the Third okay Let's see if we get there would be Interesting we are back in this yellow Channel as well So we can obviously move that further up Not sure how relevant it still is Because we've broke it now a couple of Times I'll still I still keep it here Let's see if we we find support in this Channel and yeah it's an interesting Chart certainly for swing trading at the Moment hope you like the update about Litecoin if you did please hit the like Button leave a comment and subscribe and If you really like the content please Check out the channel membership thanks A lot for watching bye [Music] Thank you