LTC: Short Term Target $235 Completed / Re-entry at $180-190

Long

Litecoin (BITFINEX:LTCUSD)

Updated

BITFINEX:LTCUSD Litecoin

trendanalysis waveanalysis chartpattern litecoin cryptocurrency crypto cryptotrading cyrptotrader ltcusd

Observations

Clearly broke out and confirmed its impulse wave up.
Currently finished Wave 3 and looking to correct during Wave 4.
Per Elliott Wave Theory, if 2nd wave retracement is minimal, then 4th wave retracement will be much larger.
In this scenario, the 2nd wave retraced to 0.382 fib. As such, we expect 4th wave retracement to be as much as 0.618 fib.
Keep an eye and look for a possible entry point between $180-$190 range. Stack your buys to minimize risk and set a stop loss.

Disclaimer
For informational purposes only and not deemed as financial advice

Comment:

Looks like it is about to finish its correction Wave 4. I would look to possibly enter around $190-$200. This coin is quite bullish at the moment and does not want to retrace too much!

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