Litecoin: Another Bullish Wave, Or Same?
2025-01-02
Category: None

Can we say this is a new bullish wave, or is it the same? It is definitely the same bullish wave that started in late November with a bottom in August 2024. 

This bullish wave saw a 40% correction in 2 weeks time which activated the 0.618 Fib. retracement level. This level was activated perfectly and signals that the correction low, most likely than not, is in. This part can be tricky. Let me explain what I mean.

Litecoin closed three days green and today is the fourth day this pair trades green. Here it can happen that we see a small advanced followed be another drop, a sudden drop, that produces a higher low. It can also happen that the market moves straight up. With very low volume, the bullish resumption is still not confirmed. This is the part that is tricky. It is hard to say if LTC will hit a higher high next or go through a higher low first.

There is nothing tricky here when you focus on the long-term. Short-term, anything goes. In fact, rather than a higher low or straight up, LTCUSDT can go sideways for a few days and then grow. All scenarios are possible, available and open.

The truth is that everything is quite simple, this chart is easy; Litecoin is going up. 

The next rise can happen within 3 days, 10 days or 33.3 days; doesn't change anything, we are happy as long as the market grows. And it will grow.

On the chart we have short- to mid-term targets. We expect much higher prices by the completion of the current bullish phase.

We are only getting started. Are we?
You can bet so.

Thank you for reading.

Namaste.