LTC looking like it`s about to blow out into a 3rd wave after the correction! So far, this potential wave 2 retraced 61.8% of wave 1; however, I still think we have one more leg down before moving to the first target at $284.
I think there is a very good probability that LTC will hit this $285 mark. We need a little bit more data to see if it will reach the $400 mark since this could just be a 3 wave correction, then a further downtrend.
Ladder Entries:
$170
$155
$145
Average price of entry = $157
Stop Loss = $135
TP1 = $280
TP2 = $390
I think there is a very good probability that LTC will hit this $285 mark. We need a little bit more data to see if it will reach the $400 mark since this could just be a 3 wave correction, then a further downtrend.
Ladder Entries:
$170
$155
$145
Average price of entry = $157
Stop Loss = $135
TP1 = $280
TP2 = $390
Note
We got down to that last zone to complete the 5th, however, we ended up turning over and forming a more complex correction
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Disclaimer
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.