Had someone ask for me to take a look at Litecoin so here you go.
For starters this whole structure looks extremely . As you can see from the chart above we can see a clear correction with good subdivision that has come down in 5 waves. Yesterdays move down is a very clean 5 wave structure that doesn't leave much room for it to be anything else at this point. Alright so where is it going?
Well I've had a target in mind for a couple months now and it is looking like a probability at this point.
I have the same count on ETH and Bitcoin as a WXYXZ correction. If that is the correct count I could see Litecoin completing it's correction in the $60 area.
Projecting an A wave completion in the mid $90 gives a C wave target in the high $50 low $60 area.
Still a little early to say for sure but this seems like a likely scenario for June. Should be able to tighten up those targets as the waves unfold.
I will not be trading this short opportunity as I'm unable to short this coin but I will be looking to go long if we see price action in the $60 area.
Thanks for taking a look, these are my ideas for my trades and should not be considered advice for your trading strategies. Any feedback is always welcome. Prosperous trading everyone.