Posted on

LTCUSD(Litecoin) 4hr tf update

My previous post on Litecoin can be found here:

https://cryptotrader.investments/2018/04/12/ltcusd-litecoin-4hr-tf-analysis/

In the post above, I mentioned that Litecoin would target between  ~$142.76 and ~$146.29 (Target area) which is again shown in this post.

Litecoin 4hr tf update

Litecoin (LTCUSD) currently has reached this target area. The entire structure from ~$109.89 on April 1,2018 based on this analysis thus represents a  regular flat Elliott wave structure.

Minute wave ((c)) = ~138.2% of Minute wave ((a)) at ~$146.61 (region of target area).

The implication of the above is therefore to anticipate a correction from the target area to further support the possibility of higher prices for Litecoin.

Support area 1 for Litecoin as shown in this analysis is ~$133.92 and ~$131.48

Support area 1 for Litecoin is between  ~$128.67 and ~$125.57

Point of invalidation (POI) for this analysis is a price close above ~$152.33 at which point Minute wave ((c)) = ~161.8% of Minute wave ((a)) which is highly unlikely for wave c of a regular flat Elliott wave structure.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.