Elliott Wave view on Litecoin suggests the rally from November 26 low is unfolding as a 5 waves impulse Elliott Wave construction. Within the chart beneath, we are able to see wave ((iii)) of this rally ended at 124.40. Pullback in wave ((iv)) ended at 95.65 and the Index has since resumed increased in wave ((v)). Inside subdivides of wave ((v)) is unfolding in one other 5 waves of lesser diploma.
Up from wave ((iv)) low, wave i ended at 106.64 and dips in wave ii ended at 98.55. Litecoin then resumes the rally increased in wave iii in direction of 137.34. Wave iv pullback ended at 121.70, and wave v of (i) ended at 139.21. Down from there, wave (ii) pullback ended at 119.72 in a double three Elliott Wave construction. Wave (ii) ended on the blue field inflection space which is the place wave y = 100% – 161.8% Fibonacci extension of wave w. Close to time period, anticipate the crypto forex to proceed increased whereas dips keep above wave (ii) low at 119.72. So far as December 23 pivot low at 95.65 stays intact, anticipate pullback to search out assist in 3, 7, or 11 swing for extra upside.
LTC/USD 90 Minutes Elliott Wave Chart
LTC/USD Elliott Wave Video