The analyst says Litecoin, says LTC looks “very strong” against the US dollar – here is its view
A strategic encryption expert who got the “Master Trader” rating in Exchange Digital Asset bybit is believed that Litecoin (LTC) is preparing for a large bombing to the upward trend.
The pseudonym tells Blongz 315,900 of his followers on the X social media platform, which appears to be optimistic against the US dollar and bitcoin (BTC).
According to the trader, the LTC seems to have completed a Correctional wave against the US dollar while flashing the upper swinging pattern (SFP) on its bitcoin pair.
Bluntz practices Elliott Wave theory, which states that the upscale assets tend to see a new collection of five waves after the completion of ABC correction. Meanwhile, the bullish SFP is a reflection indication indicating that the sellers tried to pay the price of the original to a decrease, but the strong demand pushed prices up.
Blunz says,
“LTC of all things is traded like that the market knows that ETF (a trading box for exchange) is imminent, very strong against the US dollar pair and SFP weekly on the BTC husband.
I haven’t seen anything clearly bullied like this. ”
Looking at the merchant scheme, it appears that it is expected to break the resistance Litecoin at $ 147, and re -test it as support and gathering to $ 180 – the last level during the Taurus 2021 market.
Blongz is not the only trader who is optimistic about Litecoin. In December, veteran trader Peter Brandt told his 777300 followers on the X social media platform that Litecoin “has the ability to become a strong plan” after the LTC rose at $ 100.
At the time of writing this report, Litecoin is traded for $ 119.60.
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