Litecoin can see further downside into a new low to complete the correction since ATH.
Upwards corrective structure similar to the related idea below.
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The structure of this bounce looks corrective so we want to see a short term uptrend for a better short entry on one of the labeled areas.
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Looks completed but might as well see another push to 51 or 53 even. Scenario is valid while trading below the high. BTC volatility is low so market will pick a direction soon TM.
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Filled one order at 49 so its on.
Trade closed: stop reached
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Regardless of the final EW count on LTCUSD i still remain bearish on the pair. Either as an ABC 4 into new lows or a 123(45) of a new trend.
Verdict, still looking for shorts with min target back to mid 40s. Wont be updating this any more but may post a new idea in the future.
If you inform the market of something that you think will happen, the probability of it happening is weakened...
Acel
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@LogicalDeduction, i thought TV was dead, apparently it went "viral" give the usual traffic...
Safe_Signal
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Plz take a look at our LTC's chart
TomPower
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Jezuz Ace, that bad!! R u sure, grega is seeing major upside in all coins. the technical picture is there but if it pumps and breaks the downward trendline there u r wrong. I'm long.
Acel
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@TomPower, i will monitor and update it as it shows more data. For me only ETH has a bottoming structure.
LTCUSD had a corrective structure to the upside (its like the one on LTCEUR pair right at the beginning of its history on coinbase) and looks more like 5 down (in orange) so we can even see a triangle here.
@TomPower, Its over extended and this is a short area for me regardless of Elliott Wave.
Still bullish on ETH till proven otherwise. There is a chance i missed a wave on LTC. I will still be looking for a short. Might push a last update here if i figure it out.
TomPower
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@Acel, well its still running Ace, come on man , u blew it!