LTCUSD might very well be on its way to develop into an extended third wave in a downwards impulse. To confirm this, we'd need to see the present subwave 4 to rise above $118 before making another leg down. After that, a wave 4 on a higher degree, followed by the last leg down in wave 5.
An alternative wave count would be that the present wave 4 stays below $118 before heading down once more towards the area of $110-$105. In that case, a stop-loss of $118 would be prudent on a short position.
My apologies if my textual explanation is a bit short, I believe that the chart speaks for itself.
An alternative wave count would be that the present wave 4 stays below $118 before heading down once more towards the area of $110-$105. In that case, a stop-loss of $118 would be prudent on a short position.
My apologies if my textual explanation is a bit short, I believe that the chart speaks for itself.
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