Foreign [Music] Video about Litecoin maybe let's start With the high degree wave count and then We go into the detail So because it's not making it easy for Us really so this is a wave pattern Which at least looks interesting yeah I'm I must say I'm not personally Super convinced that this is already the Breakout because if this was a breakout It would mean that the bear Market low Has been in we're not going to see the 40 level again and it's now going to Move up which is of course possibly We're truck we're tracking the bullish Count yeah we're tracking it and so far I think it's worked out nicely but um With the latest developments up there I'm gonna zoom in It's gonna get a bit difficult here and Generally this move up is anyway built On a little bit of a difficult Foundation because we talked about it Before that this is a leading diagonal a Wave one to the upside In the bullish interpretation yeah And we're coming down here in two well That's done and we're now moving up in Wave three and then there should be a Wave four and away five as well let's Just um remind ourselves about the Target for this third wave in green There that would be
92.58 that can maybe stretch a bit Higher um if we have some extended waves In between but sort of I would say Between the area of 92.50 and 103 Dollars for the way three bear in mind Then there should be a way for underway Five so the moment of truth will really Come if we push a little bit higher and Then after the wave three are we really Gonna hold Wave 4 support which should Be a shallow retracement or are we going To come down aggressively because if we Then come down quite strongly Yeah then we must say that this was Really just most likely an A B C pattern Because as long as you only have three Waves Um you can't really say very confidently That this is the breakout yeah we're Tracking it you know you can trade it Against tradable lows but still Generally from coming from the Perspective to say confidently that a Low has been made we need to see five Waves first good so let's take a look at The one hour chart I I took out some of The Subways because we don't really need Them anymore and they you know they take They take a little they distract a Little bit yeah don't need all the Subways on here anymore so the idea is That from this wave too low which was Created at uh around forty seven forty Eight dollars we moved up in wave one
Came down in two Finished ideally The Wave 3 here Wave 4 ideally finished as well but we Get to that in a minute I'm not entirely Confident that the way 4 is really done Already And then there should be one more leg up In a way five or three So in the Green Wave 3 we're waiting for One more wave to the upside So where it's now getting interesting is Really here In the green support area in which we Currently are okay so let's zoom in Let's talk about options here because I'm not entirely confident that this Wave 5 is a wave 4 is over yet so we Came into the Wave 4 support area You could get away with counting this as A five-way structure to the upside here And however the problem is that we're Not really getting off the ground here Yeah Um the scenario that Wave 4 is really Done and finished Is possible yeah we came into the Support area we missed however a little Bit the ideal Target here in here I Think at the time we talked about 73 Something yeah 73 so we only came down To 7440 which is fine you know we landed in The support area identify this Descending wedge broke above it and
Moved up a little bit higher but since Then we're not really coming off the Ground so in the most bullish Interpretation We would say That within this you know wave 5 of 3 We are now in the first wave And this obviously has five waves as Well so the bullish interplay is a very Bullish interpretation would say okay we Peaked here in wave one we're now coming Down into possibly a wave a down a wave B up and now a c wave down And then we should move higher and to Match everything I just need to move all Of those waved waves across But this is not high confidence yet yeah It's it's an option It's not even guaranteed that the Wave 4 Is over yet So we could say I mean that Wave 2 is Already over I don't think so yeah that Wave 2 is Already over I don't think so because of This mess here this this is corrective So we could put it in line with a Bitcoin count for example and Um we could say that we had here an a Wave this was a b wave and we're coming Down in a c wave And however if we do that We need to hold critical support yeah we Need to hold 75.40 below that level it will get very
Difficult for Litecoin to maintain up Upward momentum So this is the most bullish Interpretation that you get here This is about oh this is only one of the Possible interpretations Um this would be more in line with Bitcoin yeah very clearly and um however We must not I mean if even if we drop Below that support level I just Mentioned at 75.40 If we lose that we still have the 75 Level the 88.7 flip level but going Below that will obviously challenge the Low that's in place and possibly Invalidate that bullish one two setup What would happen then well if we drop Below that level then we have to assume Wave 4 wasn't finished we need to have It on the radar even now because I'm Still missing a little bit more you know Of that impulsive price action to the Upside this is generally the larger Support area for the Wave 4 and as long As we're holding above 69 dollars There isn't really anything bearish here Um but ideally we don't really drop Below 73 dollars that would be the ideal Target for this fourth wave Um so yeah option one very bullish would Be the direct breakout Um here after wave C is finished the not So bullish option short term would be That this Wave 4 is still ongoing
I mean there is the option there is the Option that for example Wave 3 finished Here And that way 4 is still ongoing Yeah disregard the subway counts and we Would have something like an elite wave Triangle a wave B wave Possibly hear C wave then d and e this Could become a long wave four so please Consider this as well but also in this Wave count we should not drop below 69 Dollars These are the two main counts so I think Either Wave 1 2 is is running here and We need to hold the support that gave You for wave 2. or if we lose it then we Are probably here in some kind of an Edit wave triangle and if even if we Then lose 69 dollars well then we have To say probably something more bearish Is going on I'll lose trust in Litecoin's ability then to create an Impulsory to the upside and that's my Update about Litecoin I hope you 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 [Music]