Hi friends! Welcome to Poop's Litecoin Update
We have succesfully predicted litecoin's bottom through wyckoff analysis published in January 1 which recorded around 65% gains since it publication.
As an update, we have yet to see $LTC to complete the whole bullish move. We are bullish at macro perspective but we are bearish short term. We are expecting $LTC to drop in the next few days. Currently, $LTC is about to complete its wave 3, the second major rally since $LTC bottomed. As this wave completes, we expect LTC to complete a small rising wedge pattern, a bearish pattern that will likely send LTC down to its Wave 4 which will likely touch the previous trend resistance now acting as a support somewhere around 0.0105 level. This shorterm bearish move will likely be violent as we printed a strong bearish divergence both in the 3D and 1D chart. A good bounce from the support (our last point of support based from our previous wyckoff analysis) will send litecoin towards its wave 5 target which could complete the 100% target we originally expected for the entire litecoin bullish trend. This could go even higher once Litecoin breaks above 0.01333 which will confirm a bullish cup and handle pattern. A break out on this level could send Litecoin in an extended wave 5. This could even challege December 2017 high in BTC terms.
That's it guys. I welcome your feedbacks.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Poop Trader
We have succesfully predicted litecoin's bottom through wyckoff analysis published in January 1 which recorded around 65% gains since it publication.
As an update, we have yet to see $LTC to complete the whole bullish move. We are bullish at macro perspective but we are bearish short term. We are expecting $LTC to drop in the next few days. Currently, $LTC is about to complete its wave 3, the second major rally since $LTC bottomed. As this wave completes, we expect LTC to complete a small rising wedge pattern, a bearish pattern that will likely send LTC down to its Wave 4 which will likely touch the previous trend resistance now acting as a support somewhere around 0.0105 level. This shorterm bearish move will likely be violent as we printed a strong bearish divergence both in the 3D and 1D chart. A good bounce from the support (our last point of support based from our previous wyckoff analysis) will send litecoin towards its wave 5 target which could complete the 100% target we originally expected for the entire litecoin bullish trend. This could go even higher once Litecoin breaks above 0.01333 which will confirm a bullish cup and handle pattern. A break out on this level could send Litecoin in an extended wave 5. This could even challege December 2017 high in BTC terms.
That's it guys. I welcome your feedbacks.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Poop Trader
