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UnknownUnicorn788630

LTCUSD H&S Formed, Correction A underway. Target $60.

Short
Litecoin (BITFINEX:LTCUSD)  
UnknownUnicorn788630 Updated   
BITFINEX:LTCUSD   Litecoin
Technical Indicators Trend Analysis Wave Analysis Litecoin (Cryptocurrency) LTC LTCUSD Bitcoin (Cryptocurrency) Bearish Patterns short moonsie
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indicator trendanalysis waveanalysis litecoin ltc ltcusd bitcoin bearish short moonsie
As we can see, Litecoin made 5 waves.

Currently, Litecoin/USD looks bearish mid-term because of the following reasons:

  • Elliot Waves completed.
  • Correction A (of ABC) seems to be underway with target $60.
  • Litecoin halving momentum is dying.
  • A perfect Head and Shoulders has formed.
  • A perfect Head and Shoulders has also formed on BTCUSD pattern; if BTC starts it decline to expected target of $8.5, this would mean LTC price to drop to around $60, which is coincidentally in line with the given target.

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