Foreign Welcome to another video about Litecoin Litecoin makes another attempt to push Higher um however generally quite weak Still Um it's it's not really getting off the Ground here so we don't have a strong Signal that this fifth wave to the Upside of this impulse has started Um we're exploring here the idea Obviously that you you know that if you Watch the previous video that we could Be in an Impulse to the upside wave one Up wave two down then we are still in This third wave there should be a fourth And a fifth basically same same or very Similar wave count to bitcoin and um and Ethereum Um And uh here in this third wave we've got A one we've got a two we've got a three We possibly have to wait four in but There is not a strong evidence yet we Can currently assume that but no strong Evidence Um and then there should be a fifth wave To the upside you know and this this Count is valid as long as we're holding The green support This was a wxy correction and the Support goes down to 69 which means we Could even drop a bit lower here in this Um possible fourth wave here in blue There is currently I mean we can
Currently assume maybe it's in because We have three waves down w x y But we really won't know until we break Above the Wave 3 High which is at 85 Dollars but this is the support box you Know out of this as always we're Expecting the move to the upside now we Did enter the support box now a few Times and haven't really left it yet so You see how relevant it is the price is Just consolidating Um at some point we will lose momentum Here if we don't keep pushing but at the Moment Um it's still okay you know we're Holding support and that key 69 level That I mentioned is based on the Retracements FIP retracements and it is The 50 retracement a level that you Don't really want to get below in a way For because if we do then we will Certainly lose momentum and it will be An issue to the higher level count Um at the moment lower level wave count Here maybe we are in this fifth wave Already to the upside you know Um ideally it goes into the sort of 90s This fifth wave Um in blue so actually this is stretched Stretching out a little bit too much What I've got here on the chart but this Would only be the fifth wave of the Third so there should ideally be a Fourth and a fifth afterwards
Um let's go into the one hour chart just To talk about what could this be This is obviously micro counting always Remember this is not necessarily high Confidence here on the lower level wave Counts but we can see a small five wave Structure to the upside here so I can Label that possibly a wave one and then Here a wave two yeah so that is possible We've got five waves here Um probably can't really label For anybody who wants to know about Those micro counts I looked at it before This video I would look at this in terms Of a small leading diagonal here in wave One we then came down in a wave let me Just think Yeah wave one here finished here now Then it was small wave two down then Away three up away four down in the wave Five up so leading diagonal wave one Wave two wave three so we've got a five Wave clear five wave move to the upside Then we've got three waves down in ABC In wave two so that's why I label this One too and then we've got here the same Situation we've got a wave one to the Upside a wave two down At least that's how I would interpret This So that means it where we're now in the Wave count within wave three Could say okay we had a one here a two Here we'd be now waiting for three four
Five pattern and then within this way Three yeah we've got a small one two Setup that could be finished as well but This is really where we get into you Know so super micro counts last or Latest working support is 77 this Wave 2 If we break below that it wouldn't be Great but it would also not be a Disaster more important would be that we Are holding the 74 level to enable a Move to the upside a continuation to the Upside if we lose that level as well Then we are most likely gonna break the 73 level as well and may come down to 69 But as long as we're holding 69 it's Okay and we can look into this all of This still being away for Um So all of this could also be some kind Of an elite wave triangle but the idea Is and that's important that as long as We're holding 69 we can still look at Higher okay and that's my update about Litecoin 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 also make sure That you follow us on Instagram Twitter We're on LinkedIn as well you can find All the social media links in the video Description and at the beginning of the Video and also maybe check out the Trading course that we've got on our
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