Litecoin Elliott Wave analysis: Resistance at 230-250 area

Gregor Horvat Wavetraders

Litecoin, LTCUSD is recovering in an impulsive fashion, but it's ideally unfolding and probably finishing a five-wave cycle, either as part of wave (C) of a flat correction or maybe even of an impulse from the lows.

However, in both cases watch out for limited gains here around 230 - 250 resistance area and be aware of a reversal down at least in three waves.

Litecoin Elliott Wave analysis chart #1

Litecoin Elliott Wave analysis chart #2

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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