Looking at the elliot wave patterns, looks like LTCUSD recently completed waves 1 and 2 which bounced at the golden ratio (61.8% around USD 135). For the elliot wave to be confirmed, rally should continue upwards to wave 3 within the next few hours. By tracing the Trend Based Fib Extension, wave 3 will hit at around above 100% between USD190-210, which will then be expected to fall for wave 4 but should not go beyond the wave 1's candle. Wave 4 might also fall between around USD165-180. If rally continues to wave 5, profit taking should occur at USD220-250 and above. Completion of wave 5's potential gain is 50%, while potential loss is at 12%.
MACD and RSI both looks good, with room for upward growth.
Enter at USD 150 following a bullish candle confirmation!
Targets:
1 USD 190-210
2 USD 220-250
Stoploss: USD 135
MACD and RSI both looks good, with room for upward growth.
Enter at USD 150 following a bullish candle confirmation!
Targets:
1 USD 190-210
2 USD 220-250
Stoploss: USD 135
Ordre annulé:
Just to give you an update, since LTCUSDT didn't continued its rally upwards, I didn't took the trade. LTC along with other alts are following BTC's path downwards.
Trade with caution.
Trade with caution.