litcoin here has hit the 89.3 fib level while inside this wedge. there are 5 clear elliot waves to the bottom of the wedge. daily rsi divergence followed by macd divergence will allow for this to be categorized as a longterm LOW risk trade. with a stop under the 89.3 fib range makes for a good setup. i have shown you guys this setup in previous charts and it works well.i have personally been accumulating litecoin at this $48-$52 range for a little while now. it would seem this could be a bottom for litecoin. if im correct here ill add to this swing position at wave 2. we saw a macd cross to the upside on the weekly chart a while back.if there ever was a time to see a bull move then this is it.
as with other assets. if i see a drop to an 89.3 percent fib level. im getting in that trade.
thanks guys and gals good luck trading
rigo
as with other assets. if i see a drop to an 89.3 percent fib level. im getting in that trade.
thanks guys and gals good luck trading
rigo