LTC Prj. 2019, P02E01, Correction is looming
Updated
Observations:
We have completed Wave 5, on the Elliot Cycle;
Daily Chart > No clear signal, but maybe slightly to the upside with the 2 Green candle sticks. Daily still bouncing off the 55 EMA.
4 HRLY Chart > RSI is bullish with some room for the upside, MACD confirms as well.
2 HRLY Chart > RSI\ACD is trending down, so we have more downs for now in the short period.
A 4 HRLY or Daily candle to open and close above $133 makes sense.
Longer term, I would suggest LTC it will retest the bottom support, approx, where the 55 EMA is.
So to conclude, we are still in the bull trend, but need more correction.
Cheers,
SS / Cryptoprospa
4 HRLY Chart
1 HRLY Chart
We have completed Wave 5, on the Elliot Cycle;
Daily Chart > No clear signal, but maybe slightly to the upside with the 2 Green candle sticks. Daily still bouncing off the 55 EMA.
4 HRLY Chart > RSI is bullish with some room for the upside, MACD confirms as well.
2 HRLY Chart > RSI\ACD is trending down, so we have more downs for now in the short period.
A 4 HRLY or Daily candle to open and close above $133 makes sense.
Longer term, I would suggest LTC it will retest the bottom support, approx, where the 55 EMA is.
So to conclude, we are still in the bull trend, but need more correction.
Cheers,
SS / Cryptoprospa
4 HRLY Chart
1 HRLY Chart
Note
Note
Update on chart, accurate. The fib. circle does work, just timed it wrongly in the above.Trade closed: target reached
:) fib circles work.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.