LITECOIN: willing to break the 200DMA

For those who maybe missed my previous post about LITECOIN lately, just tell you that in my opinion there is no other big crypto showing better indications of REVERSAL than LITECOIN.

Actually, Friday's BITCOIN rise was first leaded or noted by LITECOIN. LITECOIN showed the path and the whole market follow the trend.

Today, LITECOIN seems to resume the upwards trend.

Looking for a feasible EW-count we may have the following scenario:

Assuming the last rise as a (iii)rd wave, LTC seems resuming the movement upwards, building now the (v)th, everything ascribed within a 3rd bigger wave.

Conservatively, if we assume that waves 1 and 2 are correctly assigned, this 3rd wave should reach at least 1.618 times the length of the 1st wave, so, that is why I am expecting another great rise in short time....perhaps reaching 60 USD

What is really important is that everything is happening touching the 200DMA which, if broken strongly , it would confirm the Reversal trend...

As I said, being LITECOIN the "Testing Lab" of BITCOIN, it would not be weird to see BITCOIN as well following the trend of his young "brother", and with him, the rest of the market :-)...

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*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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Published by Toofasteddie

on

with SteemPresshttps://mentormarket.io/toofasteddie/litecoin-willing-to-break-the-200dma/

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