Elliott Wave View: Litecoin (LTC/USD) has scope for more downside [Video]

Short Term Elliott Wave View in Litecoin (LTCUSD) suggests cycle from March 30, 2022 peak is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 30, wave ((i)) ended at 119.11 and wave ((ii)) ended at 129.50. The crypto currency then extended lower in wave ((iii)) towards 101.93, wave ((iv)) ended at 114.75. Final leg lower wave ((v)) ended at 94.2 which completed wave 1. Wave 2 corrective rally ended at 107.22 with internal as a zigzag.

Up from wave 1, wave ((a)) ended at 101.77 and pullback in wave ((b)) ended at 97.44. Final leg higher wave ((c)) ended at 107.22 which completed wave 2. Litecoin has extended lower in wave 3 and broken below wave 1. Down from wave 2, wave ((i)) ended at 92.73 and rally in wave ((ii)) ended at 97.19. Wave ((iii)) is in progress and should see another leg lower to complete. Expect a series of 3 and 4s to the downside before cycle from March 30, 2022 peak is completed as 5 waves. Near term rally should continue to fail in 3, 7, or 11 swing as far as pivot at 107.22 high remains intact.

LTCUSD 60 Minutes Elliott Wave Chart

Litecoin Elliott Wave Video

Share: Cryptos feed

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.