Etherium & Litecoin - Bull Trap ahead !

(This analysis is the same for LItecoin!)

3 waves have been completed since the high of 1400.

I think we might be in an impulsive wave down noted by the Alt : X count. (yellow boxes)
Or in a (ABC) move (pink)

In both cases, price is (close) to a bottom therefore should startht to find it's way a bit higher.

The question is, how high will it go ??

My prefered thought is, it will try and test the upper channel line, probably break a bit outside of it but still fall lower after.
I don't think we have seen the end of this bear market because majority of retail traders are still mostly long positioned on all cryptos and unless there is a shift in sentiment and traders start going mostly short by the time we touch the upper channel, I don't think price will go any higher.

Once we reach a higher price, we also need to look at the subwaves to figure out if we are in a correction or starting a new rally higher.


**Conclusion**
We will see price go higher but it's going to be another bull trap, so, don't buy into it !

Komentar:

Is the correction coming now ?

Komentar:

Notice the bullish divergence. Price should stop going much lower for now.

Komentar:

Target 2 reached.

Komentar:

I will post my ideas here for easier access
t.me/em16public

Komentar:

Price finally started to go higher.
5 waves up indicate more upside movement to come.