Hi friends! Welcome to Poop's Litecoin Update
We have successfully 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 still bullish at macro perspective but we are bearish short term. We are expecting $LTC to make a short rally forming a 3 Tops pattern or a head and shoulders before resuming price drop to our wave 4 target in the next few days as shown in the next chart.
Wave 4 will likely fall in 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 . Its around 50% move from wave 4 to Wave 5. 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 challenge December 2017 high in BTC terms.
Relatedly, $Storm is showing signs of following Litecoin's path. Its currently forming a huge broadening wedge formation that is also backed by a divergence signal. To complete its 5 wave move to the patter's resistance, $storm will have to make a huge 200% rally as shown in the chart below. Caution should be exercise while making an entry on this coin as it currently has below 50BTC volume at binance.
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 successfully 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 still bullish at macro perspective but we are bearish short term. We are expecting $LTC to make a short rally forming a 3 Tops pattern or a head and shoulders before resuming price drop to our wave 4 target in the next few days as shown in the next chart.
Wave 4 will likely fall in 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 . Its around 50% move from wave 4 to Wave 5. 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 challenge December 2017 high in BTC terms.
Relatedly, $Storm is showing signs of following Litecoin's path. Its currently forming a huge broadening wedge formation that is also backed by a divergence signal. To complete its 5 wave move to the patter's resistance, $storm will have to make a huge 200% rally as shown in the chart below. Caution should be exercise while making an entry on this coin as it currently has below 50BTC volume at binance.
That's it guys. I welcome your feedbacks.
This is just a guide, not a trading advise.
Hit like and follow for more chart updates!
Thanks
-Your Poop Trader
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Head and shoulders about to form
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Litecoin bullflag or 3tops? I'm inclined to think its showing 3 Tops rather than a Bull Flag. Let see.
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Don't mind the grammar. Typo
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$LTC Update, 2 Horn Tops
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$STORM is surging in volume and is 40% up since the call.
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