Foreign Welcome to another update video about Litecoin Litecoin a bit of a forgotten One really oops a bit of Forgotten one Um because not too many people are Watching Litecoin videos still though Fairly interesting charts not overly Excited about this but here it's a chart Where the low could be in I'm not Convinced though I don't really like the Structure of this Um doesn't really look convincing but The potential is there the possibility Is there and has sort of moved in the Direction that we anticipated in the Last video but again I'm not convinced Yet it hasn't moved up enough yet to Convince me Um it would need to move at least Above This these ascending trend line that Would be around 75 dollars and it hasn't Done that yet so all of this mess could Just be a corrective wave structure Which would eventually come down but at The moment we can count it bullish so Basically we moved up in a wave one here Problem with that that where we moved up In this leading diagonal it is only only A leading diagonal which is or which Means that Um this could easily be counted as a Corrective wave pattern a corrective Wave pattern to the upside means we Could easily come down in an Impulse
Afterwards and make new lows however we Are currently delivering to the upside But I'm also going to tell you which Levels should now not be broken to the Downside to maintain this bullish Potential Um so again it's a it's a count where we Can focus on the bullish count but It is not high probability in working Out Okay so Um We moved up in a wave one then we came Down in a wave two basically an ABC Structure and we would now be moving up In a wave three in the previous video I Showed you the wave one two setup here Anybody who entered there would have Been extremely happy now I think because It is following this third wave to the Upside however we haven't reached it yet Which means we can't really be super Convinced that this is already playing Out Um well it is sort of in the direction But we haven't reached the Wave 3 Target Yet of around eighty dollars to 1.618 FIP extension but we can say that in This third wave we have created sub Waves so we can say that we had here a Wave one this being a wave two we are Now moving up in three there should be a Four and a five to finish off this Blue Wave three all of that happens here in
This channel we briefly dropped out of It but we've regained it reclaimed it Um and yeah my view is that Um This Way 3 is still ongoing okay Because if we now go to the one hour Chart you can see in there you've got a Couple of one two one twos then this is A three four and there should be at Least one more push-up in a five of Three so it could push a bit higher Um Yeah maybe into the region around where Are we now it was a p yeah maybe 73 74 US dollars right to the trend line so One more push to the other side to the Trend line would be great and expected Um and then a wave four down and away Five up to finish off this wave three in Blue that should reach around the 80 Level mark Um But bear in mind we're just coming below Resistance so this is for me not the Place to go in yeah um or go long or Anything because we're just below Resistance we're just below this Resistance line or the ascending trend Line Um so again this is a chart that has a Bullish potential but in this possible Impulse which is currently forming we Have really only seen a wave one and two And we are now still in the three so we Haven't even seen five waves yet so it's
Not high confidence but as long as we Stay in the channel that's good you know That means we can focus on continuation And what else so yeah this is good Um and we need to hold now the last wave Too low which is here at sixty dollars If we lose the sixty dollar level then I Think this is all going to break down Okay 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 Thank you