Possible LTC Cup Formation?

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Completion of Wave 5 in a series of larger, more encompassing bearish waves that have ensued since the activation of SegWit. Currently in the 4th wave of a minor bull wave. Retesting the $30.78 (23.6% retracement) support level before testing the $32.34 ( 38.2% retracement ) resistance level . Recommendation is to the let this price run confirm itself with a completion of at least 50% retracement at the $33.60 resistance level .

Prediction: Uptrend continues to 50% retracement , completing a cup. Soon after, price falls down to 38.2% retracement before breaking out to test the pre-SegWit highs.

Entry: $31.00
Target Profit: $33.50 (+8.06%)

Wait for the handle to form, confirm the bounce. Bet long.


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