LTCUSD: Bearish signs, looking for small correction
LTCUSD looks to be testing the 200 Day EMA for the first time in 291 days. Given that LTCUSD has been on a 50% bull run with little to no retracement makes me believe we might see a rejection, with a small correction following.
Elliot wave is showing that we are completing our 5th way on a 1 day chart.
I have also shown a bearish divergence forming, which means we are losing strength.
We are also testing the trend line of our channel we are currently in.
A move down to $40 ranges looks very probable.
Elliot wave is showing that we are completing our 5th way on a 1 day chart.
I have also shown a bearish divergence forming, which means we are losing strength.
We are also testing the trend line of our channel we are currently in.
A move down to $40 ranges looks very probable.
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