Litecoin Under Pressure
Gregor Horvat | Jan 11, 2022 07:50AM ET
Litecoin is in a new, higher degree wave »iv« correction after a completed intraday ending diagonal within wave (v) of »iii«.
Keep an eye on the projected resistance in the $130-$140 zone, from where we will have to be aware of a continuation lower for wave »v«.
Litecoin is breaking out of wave (4) triangle pattern in the 4-hour chart, which means that wave (5) can now progress, with room for a move down to around $100 level.
Be aware of more downside pressure before the market finds the support/bottom.
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