Hello,
Looks like LTC has formed a possible Elliot Wave. After confirming the breakthrough of the inverted H&S pattern we have gone to a higher high of late. At this point the RSI is oversold and is in the beginning of a curl towards the bottom. Volume last 2 hours in the 4hr chart (2.00pm PST) has been a sell and now I am expecting a dip. Additionally we have been riding above the 5 EMA for some time and riding the upper Bollinger Bands for a lengthy period.I expect to dip below the 20 EMA and dip below the middle Bollinger Band. This will put us at approximately between $32.00 to $34.00. It is also possible that if we dip, we may repeat the same pattern of the previous dip seen in Wave 1 which will be approximately about $35.00 to $36.00. Buying the dip will require your own homework.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
Good Luck
Looks like LTC has formed a possible Elliot Wave. After confirming the breakthrough of the inverted H&S pattern we have gone to a higher high of late. At this point the RSI is oversold and is in the beginning of a curl towards the bottom. Volume last 2 hours in the 4hr chart (2.00pm PST) has been a sell and now I am expecting a dip. Additionally we have been riding above the 5 EMA for some time and riding the upper Bollinger Bands for a lengthy period.I expect to dip below the 20 EMA and dip below the middle Bollinger Band. This will put us at approximately between $32.00 to $34.00. It is also possible that if we dip, we may repeat the same pattern of the previous dip seen in Wave 1 which will be approximately about $35.00 to $36.00. Buying the dip will require your own homework.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
Good Luck
Last cycle in wave 1 took 4 days to complete from the high to low.