LitecoinLong
Wave after Wave: LTC Bullish Reversal for the Next Bull Run
"My paranoia gettin' worse and my anxiety high
Mind got me staying in the eye of the fire
Sometimes I don't know if I'ma drown or fly
Heart so big I be down to die"
In myy previous post I stated that my target would be 165 - 175. Well guess what, my fib was drew incorrectly and I watch LTC tanked down to around 157... :(
Anywaizz...LTC price broke through support level around the .5 fib retracement yesterday but resisted further price drop at .618, completing an Elliot's 8 wave cycle.
Looking at the chart, it seems like there's a bullish engulfing pattern forming near the .618 fib retracement, which could possibly signaling reversal of a downtrend. If this all plays well and it closes above the previous candle, we can expect LTC price to rise from the dead, towards the next resistance level of around 175, and continue upward towards wave B.
I know this is not YouTube lol, but let me know your thoughts in the comment section, don't forget to like and subscribe :D
**As always, this is not a trading advice. Crypto is a crazy ride, and nothing is guaranteed."
Mind got me staying in the eye of the fire
Sometimes I don't know if I'ma drown or fly
Heart so big I be down to die"
In myy previous post I stated that my target would be 165 - 175. Well guess what, my fib was drew incorrectly and I watch LTC tanked down to around 157... :(
Anywaizz...LTC price broke through support level around the .5 fib retracement yesterday but resisted further price drop at .618, completing an Elliot's 8 wave cycle.
Looking at the chart, it seems like there's a bullish engulfing pattern forming near the .618 fib retracement, which could possibly signaling reversal of a downtrend. If this all plays well and it closes above the previous candle, we can expect LTC price to rise from the dead, towards the next resistance level of around 175, and continue upward towards wave B.
I know this is not YouTube lol, but let me know your thoughts in the comment section, don't forget to like and subscribe :D
**As always, this is not a trading advice. Crypto is a crazy ride, and nothing is guaranteed."
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.