Foreign [Music] Video about Litecoin so Litecoin Yesterday Um most likely finished no that was Actually on Monday on Monday most likely Finished its wave two yeah so as you can See this wider support area was very Relevant we came into it yeah so I Remember when we moved up here in wave Three I told you that most likely we're Now going to get into this way for Support Aryan have a chance to reverse From there which at the moment we seem To be doing Um how sustainable that is we will see But it it seems like at the moment that Wave five Indicated here in white has started So the idea is that from this swing low From the 9th of November Um Litecoin is creating an Impulse in This channel in this impulsive Channel And we had here a wave one a wave 2 The Wave 3 is still ongoing then there will Be a wave four and the wave five and we Are still in this Wave 3 by the way but In this Wave 3 we've already got our Wave one two three and the way four Probably done on Monday and now we are In the fifth wave within this fifth wave We look now at um at this uptrend here And so far this analysis I think has has Been pretty much okay you know if we're
Writing the correct wave count The only thing here yesterday yeah my Assumption was because we can count five Waves up here that wave one was already Done and I anticipated a slightly Stronger correction in a wave two if This was a wave 2 it was very shallow Unlikely yeah but possible you know it Reached basically the 38.2 percent FIB level here at 75 dollars when I Define a support area for a wave 2 it's Normally between the 50 percent and the Um 78.6 percent zip level normally but in This case I told you yesterday it's most Likely not going to go down to 72 Dollars it would be outside of the Channel so it would be unlikely but 73 36 or 74 dollars would have been ideal Now we only came to the 38.2 percent Flip level that's also okay for a wave 2 But one of the more unlikely flip levels Right so um the thing is though I don't think that this was already the End of [Music] Um That would this was already the end of The wave one because it was so shallow And because of the current development Of the price here so my view is with the Latest price information we have that Actually The way four did not end here it
Actually ended just down here where I've Got this wave too so let me just Readjust this And this was then the way five so wave One Finished yeah one second wave one Finished here at the ad64 level and Wave 2 is currently coming down here so we Just moving Um Two of those waves across which doesn't Really change the overall scenario at All We just take care a little bit here of The lower time frame count Um Which as I always mentioned is a bit Fragile right Because markets do unlikely events all The time you can see we are hovering Above a trend line here we can follow This trend line as long as we're above It Um if this is currently a wave 2 Then I'd actually be looking at a little Bit of a stronger retracement again Ideally again ideally into the region Of around 75 64 here the 50 flip level Um again maybe maybe the 38.2 flip level Will already Provide support but it's One of the less likely support levels Here The 7682 level But these are let's say we drop below
The trend line then we've got s support First of all 7682 75 64 and 7446 that we Break out of the trend line In this scenario I think it's unlikely Um because it would mean we would have To come down to the 78.6 flip level at 72.78 Which could still hold as support of a Wave 2 so this Wave 2 Could come down to that level yeah and Still be valid but it would drop quite a Lot and it would mean we break the Channel which I think if we break the Channel it's probably over to be honest But um Therefore I'm rather looking at these Three here the 38.2 to the 61.8 percent FIB level there at the moment for this Wave too but again the scenario Continues to be to the upside so it the Primary scenario is working out here at The moment Um so that's all fine Smaller time frame counts are always a Bit inaccurate please always understand That but all you know generally We are Following here nicely the wave count and Please understand that we are here in an Uptrend at the moment there's currently No sign that this is over It needs to hold generally the 71 dollar Level that hasn't changed because Dropping below that level would Basically invalidate this uptrend for
Now Um And against 71 dollars we can just Generally focus on higher And then Target is still sort of to get Into these let's say 90 dollar region Here for this third Wayfair in blue okay And what else to say Not really anything other than a long Longer time frame I'm not convinced About the Litecoin chart I did say that As well this is for me more like maybe Swing trade material here not Necessarily long-term investment Material Yeah 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 thanks a lot for Watching bye [Music] Thank you