Litecoin can see further downside into a new low to complete the correction since ATH.Upwards corrective structure similar to the related idea below.
Note
The structure of this bounce looks corrective so we want to see a short term uptrend for a better short entry on one of the labeled areas. Note
Looks completed but might as well see another push to 51 or 53 even. Scenario is valid while trading below the high. BTC volatility is low so market will pick a direction soon TM.Trade active
Filled one order at 49 so its on.Trade closed: stop reached
Note
Regardless of the final EW count on LTCUSD i still remain bearish on the pair. Either as an ABC 4 into new lows or a 123(45) of a new trend.Verdict, still looking for shorts with min target back to mid 40s. Wont be updating this any more but may post a new idea in the future.
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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.