Hello Traders Investors And Community,
Welcome to this analysis about Litecoin, we are looking at the local hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Litecoin on the more global perspectives is still in this major triangle-formation and on the more local perspectives now recently shown up with these initial bearish declines to the downside testing remaining resistance. In this case, now I discovered an important formation that will be a decisive factor in the next times, especially when the formation completes this can lead to further bearish volatilities therefore the bearish scenario should not be underestimated here and in this manner, I detected all the important levels and likely destinies we should consider.
As when looking at my chart now we can watch there how Litecoin has emerged with this ascending-channel-formation in the local perspective marked with the boundaries in blue, within this formation Litecoin has a coherent wave-count with the waves A to C already almost completed after which it established these bearish pullbacks firstly testing the lower boundary of the channel, when this boundary does not hold and Litecoin moves below it such a price-action will complete the whole formation as a bear-flag and will lie ground for the further bearish continuations to the downside where Litecoin will test the lower supports marked in my chart in blue from where the situation needs to be elevated anew and if Litecoin manages to back-up or continues with the bearish alignments, for now, it will be important on how Litecoin completes this flag-formation and how it develops further after that, it will be an important and interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, 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.
Welcome to this analysis about Litecoin, we are looking at the local hourly timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Litecoin on the more global perspectives is still in this major triangle-formation and on the more local perspectives now recently shown up with these initial bearish declines to the downside testing remaining resistance. In this case, now I discovered an important formation that will be a decisive factor in the next times, especially when the formation completes this can lead to further bearish volatilities therefore the bearish scenario should not be underestimated here and in this manner, I detected all the important levels and likely destinies we should consider.
As when looking at my chart now we can watch there how Litecoin has emerged with this ascending-channel-formation in the local perspective marked with the boundaries in blue, within this formation Litecoin has a coherent wave-count with the waves A to C already almost completed after which it established these bearish pullbacks firstly testing the lower boundary of the channel, when this boundary does not hold and Litecoin moves below it such a price-action will complete the whole formation as a bear-flag and will lie ground for the further bearish continuations to the downside where Litecoin will test the lower supports marked in my chart in blue from where the situation needs to be elevated anew and if Litecoin manages to back-up or continues with the bearish alignments, for now, it will be important on how Litecoin completes this flag-formation and how it develops further after that, it will be an important and interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, 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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.