Long

Litecoin Elliott wave Daily count

Updated

Litecoin may turn upside for wave d from a triangle pattern if will keep 65.39 level.
Wave b rejected at 0.854 fib retracement of wave a and now probably will bounce from 0.854 retracement of wave b(71.09)
If will break above 79.77 It will will strengthen our count!
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Note

ABC correction at this moment as we identified an triangle probably being a 4th wave.
Breaking below 83.38 may turn the price down.
If the price will hit 88.17 (1.618 fib extension we may declare this a 3rd wave from an impulse.

Note

5 waves up ended that may be wave a from triangle wave d
Expecting to end and abc correction to the downside for wave b

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Litecoin may find support at 0.5 fib retracement to go up to complete a c wave from wave d of a triangle

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Litecoin may have ended abc correction for wave d from a triangle pattern as the pivot point form wave b of the triangle 103.42 will not be cleared.
Expecting to see a correction, maybe not to deep, for wave e from the triangle

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e wave may have been completed the triangle pattern

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triangle completed for wave 4 going for 5th wave

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4th wave retraced enough retested the triangle upper band and it may go for the 5th wave of what may be the end of a bigger degree 5th

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I adjusted the internal structure of 4th wave for a complex correction instead of a triangle and the 5th wave started from 70.09.
The impulse nature of the rally from 81.77 keeps my focus up, and I am watching to see if wave (3) of 5 is underway targeting 1.618 fib extension.

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After completed 5 waves up, we are looking lower against 114.98, to complete an ABC correction, wave (2), with possible targets 0.5-0.618 fib retracement.

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expecting to complete wave c from wave 2

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A decisive break of 104.48 would favor Litecoin is heading upper in wave ((3))

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Below 104.48 we are looking to the downside to complete a zigzag correction wave (2) with wave (a) a leading diagonal

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Waiting to see an impulse to the upside if wave (2) ended as the price is into a corrective zone of fib extension wave (a) vs (c)

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Watching for evidences wave (2) finished 57.64.
Clearing 68.41 may change the trend to the upside

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