Litecoin, This Breakout Will Show Up Sooner Or Later!

Hi Traders Investors And Community, Welcome to this analysis where we are looking at Litecoin 12-hour timeframe perspective, since Litecoin properly confirmed the massive resistance-cluster which it has at the red zone to the downside it is now somewhat mingling in the ascending-trend-line which is also the head and shoulder formation if you did not saw this analysis already I highly recommend to watch it by going on my profile to have a full-depth-overview. Now as Litecoin has shown these down moves there are some important conclusions which have to be done now and both are leading in a breakout scenario sooner or later however it is necessary to elevate these two possible scenarios to not also be prepared when the reverse shows up, therefore I detected all the important levels and possible outcomes we should consider with Litecoin in its established structure.

Looking at my chart you can watch there that Litecoin is now building this huge massive head and shoulder formation which will either show the breakout to the up or downside and both scenarios have to first contemplate here, the bearish scenario will show up when Litecoin does not manage to move above the 70-EMA in red and close there to form a decisive move below the neckline and close there to form further downside action which will finally lead into the demand-zone. On the other side when Litecoin manages to move above the 70-EMA and close there to gain strength above it this will lead to the breakout above the upper boundary sooner as it will be in the bearish case, however, it has to be marked that both scenarios are likely to show the breakout sooner or later as the bearish scenario has this strong demand-zone where price can back-up. The next upcoming times Litecoin has to show how it can hold the structure and form either the scenario S1 or S2 to further contemplations, compared to the rest cryptocurrency market Litecoin has experienced massive declines where it is far away from the previous established highs which is seen otherwise in coins like for example Ethereum or Bitcoin. Currently, we need to assess how the market will form further and do not overspeculate the situation, it will be interesting to see the proper scenario showing up and as already mentioned both scenarios will lead to the breakout which has some good potentials given when it finally establishes.

In this manner, thank you everybody for watching, feel free to support, it is great contentment, have a good day and trading, all the best!
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Information provided is only educational and should not be used to take action in the markets.

Comment:

Pullback Established Properly On The 12-Hour Timeframe Perspective:

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Head And Shoulder Formation Establishment On The 2-Hour Timeframe Perspective: