LTC just finished 5 Elliot waves on the 1 hr, 15 min, and 5 min chart. imgur.com/a/4Zj2w In addition, RSI is overbought at 80 and is showing bearish divergence. The decrease in volumes mean a decrease in the number buyers. Once there are no buyers the bears take over and push the prices down. The uptrend is obviously losing a lot of momentum and will likely experience some temporary corrections.
Using a Fibonacci Retracement, we get a target buyback zone from 89 to 115. I know that is a big area, but we simply don't have enough information right now to pinpoint the low. This is only a temporary pull back and we should resume the uptrend soon.
Using a Fibonacci Retracement, we get a target buyback zone from 89 to 115. I know that is a big area, but we simply don't have enough information right now to pinpoint the low. This is only a temporary pull back and we should resume the uptrend soon.
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It will only hit 120.
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This idea is now invalid.