LTC USD short new idea
I think it's too early to go to $69 region. We should go sideways for a couple days (I think meanwhile Bitcoin will go to 6400 region - see my other chart). I am not very sure, that's why I'll wait until MFI on hourly chart is green (see the arrow), that should make a Wolfe wave count on the side of the wedge with the wave 5 being at 72.7- 73.2. If MFI turns green here, we should hit that $78 I was hoping for, IF it's the same pattern that I've seen months ago. From there we should go to $69 sometime on Sunday. Which makes sense, on Sundays we often go down (not always). There is that pink line, that connect the middles of the double tops. I don't know how important it is, but it's close to the goal of the head and shoulders pattern.. So let's see...Meanwhile, there is time to do some errands :)
Note
Seems like we are forming a hammer on hourly chart. That might indicate going up to that blue line again. Or $78? This number is stuck in my head lol But I’ll hold off from doing the trade. I’ve been fooled by hammer before.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.