While not identical, I believe that the EW counts are strikingly similar to $BTC. The primary difference is the ABC correction versus the Wyckoff Distribution style correction within the 4th wave. If this chart plays our, TSLA sees $1000+ by years end.
The next level up for $LTC is $177. That area will be a real barrier to get past, but if it does we will see fireworks. Its a heavy resistance area so keep it in the back of your mind if we get there and experience some turbulence
Take a look at what is happening to the $USD today. This Red line is proving to be too much for the Dollar. I expect a fall soon.
Quick hit on weekly chart. Something is brewing and it might be BIG
NOTE: If we break above the downward sloping trendline, a move to the MA's around $95 is possible. For now we watch
If your a Bull this is a Bearish pattern you want to play out. It is Bitcoin inverted.
I have been buying this coin from $38 and have been scaling in ever since last week. This is probably the MOST beaten down crypto in the entire market. Making a quick trade out of this last throw over.
The most important support on $BTC. Only a close BELOW this line on a WEEKLY candle changes my tune. 5th uo wave coming!
One thing worth noting is that the weekly RSI/Stochastic has never been this oversold for this long. All the while price action remains squeezed between the weekly 50/100 EMA's. I suspect the next week or two will be the most important closes to date. If your a Bear, a loss of the 50EMA is your objective with a weekly closing candle. If your a Bull a break back...
While we have seen a decent Bullish impulse off the $USD in the past few weeks, it is fast approaching key resistance levels. If for any reason the trend channel is broken to the upside the MA's within the white box would prove to be formidable resistance. Time will tell...
The chart above is the multiyear ARC. $LTC is fast approaching another possible "ARC TAP". Is this a Buying opportunity of this mid cycle correction??? In my opinion as long as $117 is maintained, $LTC is a screaming Buy. A loss of $117, and more importantly $99.65 would invalidate the ARC and leave the Bears in full control. Should be an interesting week. :)
Detailed in the chart above is the current supports that include the Golden Fib Ratio (1.618), the current EW Counts, and the confluence of supports between trendline support and the GFB. If we were to break UNDER those two lines with a weekly closing candle then the 4th wave goes deeper, and the Bull begins to be questioned. I remain FIRMLY BULLISH!
As long as $LTC does not break below $99.65 on a weekly basis, I remain convinced $LTC will see four figures before this Bull market is done
Rising wedge and Fib overlay with Vertical Time line Don't be hating on me moon boys and girls....Its just a play on a chart! :O)
Based on the inverted Trend channel that has held weekly candle closes within it the for the entire rally, the current candle has a candle body outside of the channel. We have 6 days (counting today) to make that body turn into a wick and get it back inside of our long standing weekly trend channel. If Bulls are to rise up, THIS IS THE WEEK TO DO IT!
I have continued to add to my $LTC every chance I have had sub $150. I will continue to do so, UNLESS one thing happens, a WEEKY candle close BELOW $99.65. Until then then, I remain a steadfast Bull.
sometimes its best to have a three dimensional view of the board (aka Chart)