LTC found support on the 4H200EMA and the top TL of the triangle and just made a bounce. For now it looks pretty solid, but to be safe I want to see some htf candles close above these resistances.
Assuming this breakout is the real deal my bullish Elliottwave count would suggest a top target of ~$80 correlating to:
- the 0,618 fib line of the Pitchfork I discussed earlier
- the This would be the 1:1 extension of (A)
- major weekly resistance
However, this will not be easy as A LOT of resistance needs te be broken.
Nearly all major EMA's are clumped up in between the current price and my main target of $80. So we'll have to take this one step at a time.
I added some confluent resistance areas as targets, mainly using the fib retracement
If you like my charts and analysis here on TV, come follow me on Twitter for more daily updates, charts and educational content
cheers
Cryptotoad
Assuming this breakout is the real deal my bullish Elliottwave count would suggest a top target of ~$80 correlating to:
- the 0,618 fib line of the Pitchfork I discussed earlier
- the This would be the 1:1 extension of (A)
- major weekly resistance
However, this will not be easy as A LOT of resistance needs te be broken.
Nearly all major EMA's are clumped up in between the current price and my main target of $80. So we'll have to take this one step at a time.
I added some confluent resistance areas as targets, mainly using the fib retracement
If you like my charts and analysis here on TV, come follow me on Twitter for more daily updates, charts and educational content
cheers
Cryptotoad
