LTC (LITECOIN) UPDATE - SHORT TERM TRADE SETUP

This is LTCUSDT update following through on our daily timeframe analysis. It looks as though we are about to end an impulse (context on daily timeframe chart - see below).

Wave 1, 2, 3-green is done. Wave 4 has begun, already created it first wave A, B & C where wave C retraces and has been rejection at the 60% Fibonacci level of wave A which looks like a perfect order block or some other fancy names other analyst call it :).

Now we wait for wave D & E to complete. Meanwhile we could see a push out of the channel close to previous swing high (wave A-blue) at $88 to which would still end up being a Triangle but that scenario is very less likely. Either way the invalidation (red dotted line) is clearly on the chart ($92.97)

More confluence, classically, is the DESCENDING PARALLEL CHANNEL where price has rejected few times (circles) from here on I expect price to start dumping to create some kind of short term temporary support which becomes a sell side liquidity to be taken later. I mean come to think of it, it's weekend so that little usual dump is expected too.


PREVIOUS ANALYSIS

OTHER ANALYSIS

Comment:

looks like a lot are still sleeping on this LTCUSDT till it happens. Ok I'll remind you this

Comment:

LTCUSDT