LTC (LITECOIN) UPDATE - SHORT TERM TRADE SETUP

4 may

This is LTCUSDT update following through on our daily timeframe analysis. It looks as though we are about to end an impulse (context on daily timeframe chart - see below).

Wave 1, 2, 3-green is done. Wave 4 has begun, already created it first wave A, B & C where wave C retraces and has been rejection at the 60% Fibonacci level of wave A which looks like a perfect order block or some other fancy names other analyst call it :).

Now we wait for wave D & E to complete. Meanwhile we could see a push out of the channel close to previous swing high (wave A-blue) at $88 to which would still end up being a Triangle but that scenario is very less likely. Either way the invalidation (red dotted line) is clearly on the chart ($92.97)

More confluence, classically, is the DESCENDING PARALLEL CHANNEL where price has rejected few times (circles) from here on I expect price to start dumping to create some kind of short term temporary support which becomes a sell side liquidity to be taken later. I mean come to think of it, it's weekend so that little usual dump is expected too.


PREVIOUS ANALYSIS

OTHER ANALYSIS

5 may

Nota

looks like a lot are still sleeping on this LTCUSDT till it happens. Ok I'll remind you this

10 may

Nota

LTCUSDT