Elliott Wave Analysis: Litecoin and DASH Are Looking Bullish
Litecoin is already rising in an impulsive fashion within five waves, which suggest that the bottom at 22.50 level can be in place. Well, after that slow and corrective decline back to 38,2% Fibonacci retracement which is ideal for wave 4, the price is probably heading back to the highs for a wave 5 towards 105-115 area. However, for the survival of the bulls, the price must stay above 42 invalidation level.
Dash made an impulsive rally above channel resistance line and 100 region, which can be a signal for a wave 3 that can push the price even towards 167 – 185 area with five of its waves. However, after that slow consolidation into a potential sub-wave “iv” and according to bullish evidences in the Crypto market we remain bullish, but any sharp decline back beneath 92 level would mean that bulls are dead.
Disclosure: Please be informed that information we provide is NOT trading recommendation or investment advice. All of our work is for educational purposes only.
Find more: Contributing Authors