LTCUSD In A Temporary Pause – Elliott wave analysis
![4h ltcusd aug 12 2020](https://www.onestopbrokers.com/wp-content/uploads/2020/08/4h-ltcusd-aug-12-2020-685x320.png)
LTCUSD is recovering with five waves, up from end of June. We see waves i, ii and iii completed so far, so latest pullback can be part of a corrective wave iv, that can look for support/bullish turn at the Fib. Ratio of 38.2 and 50.0 (55.0/52.0 level). A corrective wave iv in current scenario can unfold as a zig-zag, where leg ( a ) has five sub-waves, and wave ( c ) also. Only wave ( b ) has three sub-waves. That said, at the moment we see price starting to unfold a sub-wave ( c ) of iv.
LTCUSD, 4h
Once wave iv fully develops, and we see a new bounce in five lesser degree waves, that is when uptrend may resume.
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