BTCryptowatch
Long

Possible recovery for LTC and BTC

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Possible recovery trajectory


dont have enought time to comment, will do later, i hope this keeps people away from making bad trading descicions.

Please be aware breaking one of the swings down could invalidate the wavecount. (if a cetrain wave low breaks the previous low but these are elliot rules i cannot explaint right here.) some waves can tho,

We did expect a somewhat lower bottom, but if this holds we re good to resume (a short term) uptrend towards the long term downward trendline . If we break there, watch for 280 levels.

Same counts for bitcoin             , if we break the long term trendline after these waves, target is 12 K and 13 K roughly,

trade safe



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Comment: It looks we may indeed go a little bit lower to the 180 - 175 USD area, a bounce there is expected to be quick and strong, consolidation is possible but a strong bounce is a higher possibility. you ll notice when we get a bounce that will start a new (short term uptrnd,

Probability of breaking 250 USD area is high in that case,
Comment:

same idea for LTC, buy in here is fine, stop loss either below 61.8 or lower then the lowest low of this night, Both LTC and BTC. Still a possibility of LTC correcting to 172 and BTC to 9K

Keep that in mind before resumption uptrend.

Since buying pressure is high here we can say the bottom is near or already in.

trade safe
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