LTC/BTC Litecoin Is Going To Dump? Already Sold.

First of all, there is a fractal, if you can call it that. In order to make it works, the asset has to dump in the next impulse. If we look at the RSI, we would see that on the rising price wave, the RSI oscillator updates the previous bottom, corresponding to the beginning of the rising wave (marked with yellow vertical lines). From this fact we can conclude that the next wave will be directed downwards.

Thus, we get a diamond that we entered from top to bottom with 5 waves, then corrected the fall with ABC waves (mentioned on the chart), formed a double top (circled both peaks) fell down and successfully tested the resistance from the previous idea.

• We can clearly see a diamond.
  
• We can clearly see 2 false exits from the blue growing channel
  
• We can clearly see 2 false breakthroughs of the red channel with a dual zone of supports and resistances.
  

Sum up: now we have to go lower to the 0.008 and retest the upper right edge of the rhombus at the intersection with the previous support/resistance (red dotted line) and exit the rhombus forming the 2nd bottom at 0.0069.