LTCUSD (Binance) is still trading under the 200 EMA, if we break above it we will test and I believe eventually break a resistance at $52 area and we would be heading close to $55 where I am confident we will bounce down at, since its a resistance we haven't hit too many times as of late. We are also preparing to complete a 5th wave, so I am expecting an ABC correction after we touch the resistance around the $55 area. If we do break $55 resistance area, we could have a potential breakout since that would break an ascending triangle that has been forming for a while now.
Note: This is not financial advice, I am not a financial adviser nor do I provide financial advice. Once a student always a student, so this is a learning opportunity for you and me. TRADE AT YOUR OWN RISK. I posted this to show others a potential trade I will be taking, and explained why I would take it.
Note: THE 4TH WAVE DID NOT PASS THE TOP OF WAVE 1, SO THIS IS NOT A FAILED WAVE.
Note: This is not financial advice, I am not a financial adviser nor do I provide financial advice. Once a student always a student, so this is a learning opportunity for you and me. TRADE AT YOUR OWN RISK. I posted this to show others a potential trade I will be taking, and explained why I would take it.
Note: THE 4TH WAVE DID NOT PASS THE TOP OF WAVE 1, SO THIS IS NOT A FAILED WAVE.