Hello everyone,
LTC now is on it‘s way to the decision point. There are two main scenarios we should think of when trading LTC.
Scenario 1 (Chance: 45%)
This scenario isn’t as nice as it seems, because there are strong resistance levels on the upside. LTC could easily hit one and go down. The thing is: there is maybe a wave 4 forming. Technically this wave has space until second key resistance level. This means: only when LTC is breaking through the second key resistance level, there is hope that we have seen the low at 49.14$ already.
Now it depends on the wave structure (impulsive or corrective) forming the next time. I will post an update as soon as I can estimate it – if this scenario is realistic.
Scenario 2 (Chance: 55%)
LTC hits trend channel and is going down. The question then is: which of the support levels will make it? Where do we see the turn around then? Or is LTC then crashing down to hell?
We have to wait, be patient and let the market show us the way it wants to go.
More updates will follow in due time.
Take care,
tgo
LTC now is on it‘s way to the decision point. There are two main scenarios we should think of when trading LTC.
Scenario 1 (Chance: 45%)
This scenario isn’t as nice as it seems, because there are strong resistance levels on the upside. LTC could easily hit one and go down. The thing is: there is maybe a wave 4 forming. Technically this wave has space until second key resistance level. This means: only when LTC is breaking through the second key resistance level, there is hope that we have seen the low at 49.14$ already.
Now it depends on the wave structure (impulsive or corrective) forming the next time. I will post an update as soon as I can estimate it – if this scenario is realistic.
Scenario 2 (Chance: 55%)
LTC hits trend channel and is going down. The question then is: which of the support levels will make it? Where do we see the turn around then? Or is LTC then crashing down to hell?
We have to wait, be patient and let the market show us the way it wants to go.
More updates will follow in due time.
Take care,
tgo
HK-Capital-Management
