Good morning everyone, today I will bring you an early morning analysis of Litecoin on January 10th.
Litecoin is expected to be halved in June, and this wave of rebound is standard and strong. Litecoin pulled up to the previous high (85 US dollars) yesterday, completing the 4-hour level rise. This wave of Litecoin's rise started from around 61 US dollars, and after five waves of rise, it rose to around 83.5 US dollars. The overall increase was 37%, and the structure was also very beautiful. The first, third and fifth waves rose by about 15-18%, and the amplitude of each wave of callback was about 8%, which was considered to be more rise and less callback, and the long position was relatively comfortable.
At this point, since the market has completed the 4-hour level of the 5th wave of the rise, we must pay attention to the possible ABC callback. I think the callback of wave A may reach around 78 US dollars, and then there will be a wave of rebound of wave B, and finally the decline of wave C is expected to reach around 74-76 US dollars, which is also the position of FB (0.5 and 0.618). The callback at the 4-hour level must be sufficient, either time for space or amplitude for space. At this time, everyone should pay attention to the risks, and don't just see the profits, but ignore the risks of decline.
I hope this article can be helpful to everyone. I wish you brothers to make more money. Please raise your hands and follow me.
