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Litecoin (LTCUSD) bears in charge (4hr tf analysis)

Litecoin’s (LTCUSD) should continue its bearish trend and any bullish momentum will not be sustained. Progression of the bearish trend based on Elliott wave analysis indicates the termination of a minor wave B at ~ $173.09.

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A minute wave ((iii)) position of minor wave C appears to have terminated. If this is so, minute wave ((iv)) is next and is anticipated to terminate within the target area indicated on the chart i.e. between the 38.2% (~$137.13 )and 50% (~$143.71) retracement of minute wave ((iii)).

Another round of sell off should follow the termination of minute wave ((iv)). Projection for the end of the sell off is ~$52.26

Point of invalidation (POI) for this analysis = ~$152.77, just above 61.8% retracement of minute wave ((iii)) by minute wave ((iv))

One thought on “Litecoin (LTCUSD) bears in charge (4hr tf analysis)

  1. […] My previous post on Litecoin which called for prices to return to between $136 and $140 can be found here: […]

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