LTC Analysis 5/07 LTC-USD
LTC / USD forms an impulsive movement with its uptrend channel, just as it does for a higher-level wave c. However, I do not like the momentum of this move at all.
If one compares the wave a with the resulting wave c, one unmistakably states that the momentum movement took place in the wave a. Normally, the wave c should far exceed this state. However, this can still happen if the channel is broken upwards and old intermediate highs are overcome. On the bottom, the channel boundary should be able to withstand this scenario.
This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!
Cheers Jessy
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