Foreign [Music] Video about Litecoin LTC there isn't Really too much Um to mention no not many changes here To my last video my view remains as long As we hold above 71 US Dollars which is The low of this wave for we can focus on Higher it is generally a chart that I Personally would only consider for Short-term swing trading not for Long-term investing and the reason is The LTC BTC chart showed you that in the Previous videos Um it is one of the coins that's just Losing out over Bitcoin over the years And why would I invest in an asset that Is losing out versus Bitcoin right where The the whole purpose of an altcoin is To get more for little yeah for a little Input you get a lot out of it but If um the outcome isn't even doing that That's a bit of a problem but short term Is an interesting chart yes sure Um talked about this being a wave one Here but only a leading diagonal so it's Not great Um it loses you know it makes you lose a Bit confidence then hit the wave two That's fine and the Wave 3 to the upside Works out quite nicely as well so we Look at the wave three to the upside now By the way afterwards we should get away Four and the wave 5 to the upside if
This is the bullish count this count Only valid as long as we hold above 71 Dollars so should you tell a lot about a Possible stop loss if you want to set One that's entirely your decision at the Moment at the moment at the moment my View is that we are here in this third Wave as I said in the third wave we've Got the blue count one two already done We're now in the third wave there will Be a fourth and a fifth it's a very Similar count of Bitcoin at the moment Um In the blue third wave And that's I guess what most people are Interested in we've got our white counts And the white count consists also of Course of five waves it's all about the Sub waves here And those Subways show a wave 1 Wave 2 Wave 3 either way four yeah we found Support exactly in the yellow support Box we left it Came into the next box right so it Suggests we are now in this Fifth Fifth Uh fifth wave in the wave five in the Way five in itself consists of the Yellow count So let's zoom in further At the moment my view is that the Wave 4 In white was most likely finished to be Honest even if it wasn't finished if we Drop below that low the 71 dollar level I think the momentum is gone and it's
Probably not going to work out anymore Um and that is reflected by the FIB Levels because this support area is the Support area for the wave 4. so dropping Below that level Would make this Um count very unreliable because Normally a wave 4 would not drop below The 50 FIB retracement okay okay so then We would argue we're in the fifth wave And in the fifth wave we have done our Wave one Here our wave two that could still come Down a bit lower Um why could it come down lower because If I draw the Pips You can actually see that this is all Going down to the 61.8 FIB level we've Come down to the 50 exactly the 75.50 Level found support at the ascending Trend line it would be an ideal time to Turn around but I don't think the Pattern itself is finished yet so we Take a look at the Subways in a minute So key support if we break below 7557 Which is a key support level on the FIB Ladder here it's the 50 FIB level if we Break below that we see 74.40 and then 72.71 already below the 72 71 level Things are going to get difficult and This one to setup is possibly not going To work out anymore yeah so be aware of That that's your warning okay so if we
Zoom in We look at the wave tool how could The Wave 2 be made made up right Um my view is that this is quite a Complex correction if you have a complex Correction it's most likely a wxy w Um now this looks too Wxy maybe go with that wxy and let's Because the wave X looks like a triangle A b c d e yeah that would work possibly And then coming down now in the Y wave Target for the Y wave and that's what uh Why I mean it doesn't look finished if We take the length of the wave w We look at the possible length for the Wave Y takes you to the one to one ratio Basically down here the 74 40 level or 7420 here yeah so the one to one ratio That would be an ideal Target let's see If we get there but be ready that at any Moment this can move higher important Signal that we are moving higher In the wave basically in the Wave 3 here In yellow yeah Would be a breakout above the wave X High so if we get above the wave X High Currently at 78 34 35 that would be a Signal that Wave 3 is starting Target For the Wave 3 before we finish the Video Then you should have all the levels that You need So the target let's make it a bit more
Accurate here Target would be well okay I need to change that now slightly The ideal Target would be 91.70 now I Have my doubts that we get there In one go Um it's quite a lot of movement but the First Target would certainly be the 8547 Level the one to one ratio then the 1.236 level 7885 keep these levels in mind then we Take it from there 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