Litecoin Expected to Drop, Here's Why
Hi friends! Welcome to Poop's Litecoin Update
We have succesfully predicted litecoin's bottom through wyckoff analysis published in January 1 which recorded around 65% gains since it publication.
As an update, we have yet to see
LTC to complete the whole bullish move. We are bullish at macro perspective but we are bearish short term. We are expecting LTC to drop in the next few days. Currently, LTC is about to complete its wave 3, the second major rally since LTC bottomed. As this wave completes, we expect LTC to complete a small rising wedge pattern, a bearish pattern that will likely send LTC down to its Wave 4 which will likely touch the previous trend resistance now acting as a support somewhere around 0.0105 level. This shorterm bearish move will likely be violent as we printed a strong bearish divergence both in the 3D and 1D chart. A good bounce from the support (our last point of support based from our previous wyckoff analysis) will send litecoin towards its wave 5 target which could complete the 100% target we originally expected for the entire litecoin bullish trend. This could go even higher once Litecoin breaks above 0.01333 which will confirm a bullish cup and handle pattern. A break out on this level could send Litecoin in an extended wave 5. This could even challege December 2017 high in BTC terms.
That's it guys. I welcome your feedbacks.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Poop Trader
We have succesfully predicted litecoin's bottom through wyckoff analysis published in January 1 which recorded around 65% gains since it publication.
As an update, we have yet to see
LTC to complete the whole bullish move. We are bullish at macro perspective but we are bearish short term. We are expecting LTC to drop in the next few days. Currently, LTC is about to complete its wave 3, the second major rally since LTC bottomed. As this wave completes, we expect LTC to complete a small rising wedge pattern, a bearish pattern that will likely send LTC down to its Wave 4 which will likely touch the previous trend resistance now acting as a support somewhere around 0.0105 level. This shorterm bearish move will likely be violent as we printed a strong bearish divergence both in the 3D and 1D chart. A good bounce from the support (our last point of support based from our previous wyckoff analysis) will send litecoin towards its wave 5 target which could complete the 100% target we originally expected for the entire litecoin bullish trend. This could go even higher once Litecoin breaks above 0.01333 which will confirm a bullish cup and handle pattern. A break out on this level could send Litecoin in an extended wave 5. This could even challege December 2017 high in BTC terms.That's it guys. I welcome your feedbacks.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Poop Trader
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