LTCBTC short 2nd Elliot wave is taking market by Storm 10%
I thought that the second that the bullish for another bullish push but my suspicions were right and I it seems like that 2nd Elliot wave is on the play see BCN/BTC prediction. All the cryptocurrencies besides they use are in correlation with each other some of them more and some less but in general their behavior is very similar.
LTCBTC didn’t go thru 0.020000 which is very nice and respected psychological level. GAP based on weekly intervals is marked on the chart as well which combined with 0.02000 is creating very solid support/resistance area. I marked two head and shoulders formations plus there is almost perfect respect of important Fibonacci level 38.2. This chart is packed with many sorts of patterns and price action which suggest strong pull back and by the look at the polo exchange I wouldn’t expect prices to go up in short medium term.
I would suggest first level of TP area around 1.618% which is around 0.015000
My goal for this short position is 1.9$ which depends on the BTC value but I assume it will go below 0.010000 and I’m not expecting for BTC to go below less than 1000$.
If You look at the charts and see how some of the prices are ridiculous high compare to last year.
If You follow 10% challenge we are around -10%
I would go short here and I believe there is still time to enter the market and TP just above 0.0220000 and TP around 0.010000 or 0.05000.
I will keep You posted if I will close position before that or if something will change.
LTCBTC didn’t go thru 0.020000 which is very nice and respected psychological level. GAP based on weekly intervals is marked on the chart as well which combined with 0.02000 is creating very solid support/resistance area. I marked two head and shoulders formations plus there is almost perfect respect of important Fibonacci level 38.2. This chart is packed with many sorts of patterns and price action which suggest strong pull back and by the look at the polo exchange I wouldn’t expect prices to go up in short medium term.
I would suggest first level of TP area around 1.618% which is around 0.015000
My goal for this short position is 1.9$ which depends on the BTC value but I assume it will go below 0.010000 and I’m not expecting for BTC to go below less than 1000$.
If You look at the charts and see how some of the prices are ridiculous high compare to last year.
If You follow 10% challenge we are around -10%
I would go short here and I believe there is still time to enter the market and TP just above 0.0220000 and TP around 0.010000 or 0.05000.
I will keep You posted if I will close position before that or if something will change.
