The LTCUSD trading pair after pivoting well off of $137 has completed (depending on how you count it) 5 motive waves up to top out the price at around $174. I took the fib extensions tool and projected from the proposed A wave from the B to get a general target for the C wave approximating near the .50 fib retracement. In addition, using a 1 to 1 extension of the wave provides a confluence zone highlighted by the green box on the chart. Furthermore, using the pitchfork tool allows one to conclude that if this retracement is accurate that it will most likely occur via the recent reaching of the median line and will continue to retrace to approximately the $162 area. If we stall and begin to move impulsively at the 0.786 fib region then there might be the potential to scalp some profits and enter a long position in the more short-term. As always, make sure to note what Bitcoin is doing as the coins are heavily correlated with one another and if Bitcoin makes a move up Litecoin will follow. Short (short)-term: short/bearish Medium-term: neutral/bullish long-term:bullish. Stop losses can vary depending on the level or amount of risk tolerance one has and again laddering buys and sells to dollar cost average is recommended. Note that a failure to retrace past $164 that the wave count could be counted incorrect and an updated analysis will be needed.