LTCUSD Elliot Wave Theory

Greetings traders!

Some have viewed this as an Inverse Head and Shoulders series, however I have taken a more appropriate view.

The Elliot Wave theory with an a-b-c correction indicates a strong, bullish movement to the upper resistance level.

The price has also once again retested the 200 EMA, fuelling the bulls.

The price seems to be in a three-drive pattern leaning towards the upwards momentum as well.

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Wish you all a great trading week,

Good luck!