Foreign Welcome to another update video about Litecoin Litecoin hasn't really changed Since my last video but there's another Option I want to suggest to you another Option we can talk about here Um The main view of my primary scenario is Still that we are in this Green Wave 3. Um That we are within the greenway 3 here In a five wave move up one and two done We are in this Blue Wave three there Will be a four and a five so basically The next leg up should be a Blue Wave Three If we zoom in as per this wave count You can see that Um in this Blue Wave 3 well we actually Have we are actually in this wave count Um and within the Blue Wave 3 we are Already in the White Wave five This is a five wave move We can say this was a five wave Structure to the upside We're now coming down here in wave two It doesn't look like that this Wave 2 is Over And the reason is that the next leg up Should be this yellow wave 3. then there Should be a four and a five but if we Are already in the yellow Wave 3 then This thing should start to move you know It should be a monster it's not so
Therefore I can only come to the Conclusion that either we are in a Bearish pattern or we haven't started With three yet yeah so I am currently Going with the second one that we Haven't started with three yet because As long as we're holding these support Levels we can focus on this wave count Um but the idea would be That we've possibly let me see um That yeah we came Let me see yeah we have one up okay wave One up wave two that we are in this wave Two still But this is actually not a w x y as I Initially thought I would rather see this as an ABC and The B wave is a triangle So that we came down in a wave a This is currently a b wave triangle and We would come down once more in a c wave Well you can even see this as actually Um Let me oh no I think wxy was absolutely Correct I need to obviously account for All of this mess so if I zoom in a bit So you can see from the high I think the W wave I had here I think that's correct Then the wave X would be here and the Y Wave would make one more lower low that Would be ideal because I don't think We've started the third wave but then We've got this ABC so wave a Wave wave Y is basically a three wave
Move wave a done This might be a wave B triangle and then We come down in a c wave And I can look at it in terms of Triangle here I mean yeah you could say We've now broken into the upside but That's not necessarily the case for an Edit wave triangle Um Elite wave triangle Would be with a b c d e yeah so as long As we stay below 77.21 this is valid and we would expect Another move down in a c wave If We break now above that 7721 level then Of course you know you could have a Larger triangle unfold or We are already here done with ABC and We've got a truncated wave C and we're Already moving up the thing is I think As soon as we get above this wave B high Is above this high 78.10 that would be a good signal that Things are starting to move to the Upside yeah until then I'm not going to Go with this triangle count and then Another C wave down And it could go down as low as the Support area allows basically to 74.40 below that level we've got a bit Of a problem and most likely this count Is not going to work out or let me Double check that actually No this could still go down the way this
Could still go down all the way to 72.69 Not my primary expectation but it could Do And um only below 72.69 I will lose Trust in this count So yeah no that's actually my that's Actually my expectation Um I think I said in the beginning I've Got two counts but I don't think I think this is fine Um I'm gonna go with this and of course you Know this could all just be a corrective Mess and we'll come down again Impulsively but if it does then we will Get a signal if we drop below that uh 72 Level that I just mentioned and then we Can probably or then we will either look At something different or something yeah Much more bearish Because uh you know the overall chart Context isn't great I mentioned that Before Litecoin BTC chart doesn't look Good for Litecoin so this can be used Obviously for swing Trading it's a very Long sideways movement here that started Actually on the 23rd of November so it's Time to get something done but Um For swing trading okay for long-term Investment I I personally not for me you Know not for me just because the Litecoin BTC chart but overall next Target for the upside maybe we talk
About that as well before we close here Um Next Target for the upside the yellow Wave 3 that would be So Target would be around the 90 dollar Level Okay 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