LTC - DEAD?

LTCUSD chart is looking bearish. Rating: Neutral

Since Reaching All-time highs LTCUSD has gone through complex corrections and tried to end the corrections with a new wave count at Pivot Point $100.20. LTC did complete a 5 Wave sequence which had a terminal point of $251.90. LTCUSD then began a ZigZag Correction. The correction should have ended at $110 which was a strong support level. But it was a head fake, LTCUSD looked like it had finished and was beginning Wave 1 of a 5 wave sequence but it abruptly failed and crossed the $110 key support level. LTCUSD is trying to make the turn now but the price action is still looking weak.

So, is LTC Dead? Next Key Support Level is between $30-$50.

-AB