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13.02.202307:07 Forex Analysis & Reviews: Elliott wave analysis of Litecoin for February 13, 2023

Exchange Rates 13.02.2023 analysis

Litecoin should be in the final stages of the ongoing correction. We are looking for a break above minor resistance at 94.96 as confirmation that wave ii/ has been completed and wave iii/ higher towards 107.72 is in motion. We need to accept the possibility of one final spike lower to test 88.39 before completing the correction and setting the stage for a new impulsive rally higher. The odds of another decline are low but there is such a likelihood.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2024
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