Litecoin made some nice breakout above November highs recently, which we see it as a higher degree wave C or maybe even wave 3 after a completed irregular/expanded flat correction in B/2 on November 9th.
Litecoin hasn't finished its rally yet, it's still pointing higher within wave C/3, as five-wave cycle of the lower degree looks to be unfinished. So, be aware of further rise at least up to 90 area for wave C, if not even above 100 for wave 3.
Don't forget, risk-on sentiment seems to be back in the game, as stocks are recovering and USD is losing its power that can be easily in favor of Crypto.
A catalyst for even further weakness of the buck in the last two sessions are FOMC minutes in which members noted that they will be careful with hiking rates going forward. This sounded dovish so US yields came down, notes higher which had a negative impact on the USD and a positive on stocks. So lower USD can definitely help cryptos, especially those that are doing well for the last few days, such as LTC.
All the best!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Litecoin hasn't finished its rally yet, it's still pointing higher within wave C/3, as five-wave cycle of the lower degree looks to be unfinished. So, be aware of further rise at least up to 90 area for wave C, if not even above 100 for wave 3.
Don't forget, risk-on sentiment seems to be back in the game, as stocks are recovering and USD is losing its power that can be easily in favor of Crypto.
A catalyst for even further weakness of the buck in the last two sessions are FOMC minutes in which members noted that they will be careful with hiking rates going forward. This sounded dovish so US yields came down, notes higher which had a negative impact on the USD and a positive on stocks. So lower USD can definitely help cryptos, especially those that are doing well for the last few days, such as LTC.
All the best!
If you like what we do, then please like and share our idea!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Comment:
$LTC remains nicely bullish as expected within wave (v) of »iii« towards 90 area or higher, just be aware of a new pullback in wave »iv«. We remain bullish as long as it's trading in the EW channel and above 64 invalidation level. #Crypto #Litecoin #LTCUSD #Elliottwave
#Crypto #Litecoin #LTCUSD #Elliottwave