Litecoin, Develops Channel-Formation, Upcoming Perspectives!

18 févr. 2021

Hi my friends,

Welcome to this analysis about Litecoin, we are looking at the hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As mentioned already previously Litecoin has built this decisive triangle-formation which already completed bullishly to the upside, now besides that, I discovered the main formation Litecoin is forming important for the next outcomes to show up with, there can come some very determining price-actions that can increase the potential further, therefore I detected all the important levels and likely perspectives we should consider with Litecoins established structure and the upcoming movements ahead.

Structural Developments:
As when looking at my chart now we can watch there how Litecoin is trading within this main ascending-channel-formation marked in my chart in blue, besides that Litecoin has established the coherent wave-count within the formation already completing waves A to C fully within the schedule and now with the wave D remaining with only few steps to confirm, this wave D will directly run into the confirmational-bounce-zone marked in my chart in blue where Litecoin already showed up with bullish bounce attempts, this zone is likely to be the origin for the next wave E to the upside that will finalize the whole wave-count and will test the upside-zones from where the next conclusions need to be made.

Upcoming Determinations:
Taking these factors into consideration Litecoin has definitely the potential to move on further with the wave-count and test the upper levels nevertheless for now it is important to do not underestimate the bearish side because Litecoin already showed up with some pullbacks, such a bearishness can also increase again for example with Litecoin do not hold the channel and closing below the lower boundary, it is necessary to be prepared for such situation to do not get overwhelmed by circumstances and lie open food for the smart money operators and market makers especially in such a volatile market like the cryptocurrency market is, it will be shown how Litecoin develops further with the channel next times.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate rather than to speculate."

Information provided is only educational and should not be used to take action in the market.