Litecoin LTC Price News Today – Technical Analysis and Elliott Wave Analysis and Price Prediction!

Litecoin LTC Price News Today - Technical Analysis and Elliott Wave Analysis and Price Prediction!

Foreign Video about Litecoin so we have an Unchanged wave card here compared to the Previous video I still wanted to update You because we have a few new Developments on the chart so we take a Look at How likely is it that we've Already completed this correction down First thing I would like to do I'm going To take those support boxes out they are Not really relevant anymore and they are Just I think of messing up the chart Here so they did work for us yeah they Were long trade opportunities and we did Rise dramatically well dramatically but Quite substantially actually after that So that was a long trade opportunity They did hold support 4084 that was the Purpose but the way four is now over so They are not relevant anymore so I Always try to keep the chart as clean as Possible because we have one support Area which is now relevant here which is This one so we talked about the Situation in previous videos that we Have most likely finished away three to The upside and that we are coming down In a fourth wave We talked about this being most likely An ABC structure and I gave you a key Target in the last video for the C wave And I think we reached it let me just Double check that I think we looked at It in terms of length of the wave a and

No we didn't reach it yet we haven't Reached it yet yeah I think target was Around 73 dollars I can't remember why we had that dotted Line here 7440 because that was reached But that is not so important so the key Target is around the 73 oh let me let me Just check the retracements actually Let me check the FIB retracements for The wave three Because they are relevant for the Current wave four so if we look at the Retracements Yeah okay so we can see that oh yeah Exactly I remember we talked about Confluence of support in the 73 region Because we've got the one to one ratio Between waves A and C so the so-called Proportionality Target that takes us to 73 dollars and the 38.2 percent Fibonacci retracement of Wave 3 also Takes us to the 73 dollar Target that is A good confluency around 73 dollars and To be honest it fits quite well with the Lower level wave count Um because If I look at the sub waves here A B and C yeah and if I look at this C wave here We can see that the C wave does not yet Consist of clear five waves yeah but a c Wave would be normally a five wave Structure So currently I'm looking at This being possibly a wave one this Being a wave two hero A3 hero A4 and one

Leg down two seventy three dollars yeah It would be ideal to be honest it would Be ideal so I'm just gonna highlight the 73 dollar level here my view is that This C wave is unfolding at the moment As an ending diagonal Um so basically you could also argue With some you know descending wedge and One more let down would be preferred Here too yeah around 73 dollars Maybe Not maybe not exactly there you know you Can look at this support level here it Might take us down to 73.50 or something They don't always need to be reached to The you know the exact sent value Um but yeah so I think we are pretty Much at the end of this correction Important to understand a few things Here in this current wave four we Couldn't theoretically drop down to Around 69 and it is still away four you Can still consider it away four but it's Only below this level which is the 50 FIP retracement of Wave 3 that we cannot Really Consider it away full anymore then we're Looking at something more bearish and I Cannot trust this particular wave count Anymore then we have to assume a more Substantial top is in place and we are Breaking down possibly in a one two Setup or even something more bearish we Need to take a look at it then but at The moment we can go with this wave

Count but the invalidation point would Be 69 not really in validation not Really in validation because Invalidation would only strictly occur If we drop below 64.35 below the wave One high because if the Wave 4 cuts into Wave one it's not an Impulse anymore Um but in reality anyway for the drops Below the 50 level is not really a way For anymore okay That's my update about Litecoin I hope You'll like the update if you did please Hit the like button leave a comment and Subscribe and if you really like the Content then please check out the Channel membership thanks a lot for Watching bye

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