CryptoChris17
Long

Buy for a long position upcoming LTCUSD

COINBASE:LTCUSD   Litecoin / U.S. Dollar
After LTCUSD completed a 5 wave impulse/motive wave the typical A-B-C retracement is now expected. Buying opportunities with high statistical probabilities with good R:R are between the 0.50 to 0.618 fib retracement levels. Approximately $149 to $143 with a stop-loss at the 0.65 fib $138. In addition, the A wave of the A-B-C has completed with the current price action most likely representing the B wave which will proceed with a 5 wave C down to the green box highlighted on the chart. Recommended to DCA between the .50 and .618 in order to get best possible average price. Furthermore, I have provided a rather conservative Elliott wave count for the potential price that could take place in the future labeled in orange in the higher degree with fib targets derived at key statistical likelihoods for price action. I also placed a modified schiff pitchfork on the chart in order to better illustrate the potential wave counts that can serve as good indicators as to how the market is holding to the look of the chart (although a schiff or original pitchfork might need to be placed in at a later point to accurately capture the market).

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