There are 3 possible scenarios for LTCUSD right now to start its bull run for 2018. 1) It bounces off the first up trending support line at some where around $230 and move above previous All Time High . (Most Likely) This bull flag correlates strongly with BTC 2) It fails bouncing off around $230 and downtrends to hit the second up trending support line which results in a bounce at around $180 towards previous All Time High. (Likely) 3) It even fails to bounce off the 2nd up trending support line and downtrends to around $135 and then bounce back up swiftly towards previous All Time High. (Unlikely)
Bull flag has been forming for LTCUSD for some time over and over and most of them have proven to be false.
With almost the completion of E wave (Elliot ABCDE) along the consolidation a major bull run can be expected shortly for LTCUSD possibly taking it to around $420 - $500. I'll not be surprised to see litecoin getting carried away all the way to $600+ with the kind of interest and fomo that has kicked in into crypto recently.
Thanks for your time. Happy trading.
Leave a thumbs up if you liked the idea. :-)
Disclaimer: This analysis is just my opinion and must not be considered as Financial Advice.
評論
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LTCUSD has bounced off of the 2nd up trending support line. Consolidation will be in plays for next 2-3 days before we see any type of bullish moves.
評論
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I hate to say I'm horrified to witness Unlikely situation that I had mentioned. Looks like a strong bounce is right around the corner.
Thanks for the detailed explanation... so many contributors just post charts (with little or no text), which is probably fine for experienced traders, but your detailed post (whether correct or not), allow the less experienced to grapple with these scenarios and how they play out, with much more clarity.
Kingler
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@Trader247, Thanks. I try my best providing explanations for my ideas.
tucci2001
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I agree, 1) is the most likely to occur. i believe we will see a nice bull run accumulate within the next 24 hours,