LTC Analysis 5/16 LTC-USD

Should that have been anything at LTC / USD?! According to EW, this count is valid for one impulse of a wave c. There are five visible waves, three impulse waves and two correction waves. Wave 2 does not fall under the start of wave 1. Wave 4 does not penetrate into the price space of wave 1 and wave 3 is not the shortest of the impulse waves. This complies with the regulations.

I wrote in the last analysis by LTC that I do not like the momentum for a wave c at all. Finally, then came, what fits this situation: The price breaks the upward trend channel down by, because the power of the buyer is missing.

There is now the possibility that the price once again drives the abandoned channel from below (Target: $ 165.00). Then it will show if it was just a classic pullback and it continues to go down, or if the power of the bulls is enough to move the price into the channel with further rising prices.

It is also important to mention that the market should come to a pullback, can form a possible head-shoulder top formation. The left shoulder and the head are already pronounced. There is still a missing right shoulder. Then the neckline becomes important! But we are not there yet!

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