Litecoin, Completed Flag-Formation, Next Alignements!

Hello Traders Investors And Community,

Welcome to this update-analysis about Litecoin, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what are likely scenarios we can expect within the upcoming times. Since previous analysis, Litecoin moved on to form the breakout below the lower-boundary of the bear-flag as expected and therefore fully completed the bear-flag with the activation of lower levels to be reached. Now as these major confirmations have shown up in the structure I discovered other worthwhile signs important to assess now as the dynamics also altered, therefore we are looking at all the important levels and likely outcomes we should consider in the established structure and upcoming movements.

As when looking at my chart now we can watch there how Litecoin now fully formed the breakout below the lower boundary and recently showed up with some up moves from there which are quite marginal and not confirmed a reversal, these up moves are running directly into the established resistance marked in my chart in red where several resistances coming together and forming this strong resistance cluster consisting of the EMAs and the lower boundary of the formation, when Litecoin moves into these it is likely to show up with a bearish pullback from there which then confirms also to the wave-structure Litecoin has established emerging with the final wave C to the downside, when this happens Litecoin will continue till there is support found in which it can reverse, this is likely to happen within the lower-support marked in my chart in blue, when Litecoin reaches these levels it has to be elevated how it reacts into there and if there can come a potential reversal or it will just be a setting up to form further bearishness ahead, it will be a interesting journey ahead.

In this manner, thank you for watching the analysis, have a good day, and of course good trading, all the best!
"Trading effectively is about assessing possibilites."

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