Litecoin has extended our the corrective phase of our Elliott Wave corrective impulse. It has extended past wave 2 at $124 to find support at a Fibonacci level below at $117. This has invalidated the wave rendition and is usually a bearish sign. However, we appear to be finding support at current levels, and even appear to be forming an inverse head and shoulders pattern with a neckline somewhere around $150. If we are able to catch some momentum then $151 and $167 are targets before highs at $186.
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