Welcome to this analysis about Litecoin, we are looking at the 4-hour timeframe perspectives, the recent events, the established formational structure, and what to expect in the upcoming times. Since Litecoin has shown up with these heavy bearish volatilities to the downside it did not yet managed to show up with a sufficient reversal in the structure rather it is mingling in the range and do not come up from there, this important to notice in terms of considering a potential bearish continuation and in this case now I discovered a decisive formation Litecoin is forming that is likely to determine the further alignments, therefore I detected all the important levels and likely destinies we should consider.
As when looking at my chart we can watch there that Litecoin since it formed this initial heavy bearish volatile move trades in a channel-formation marked in my chart with the blue boundaries, within this channel Litecoin, has the coherent wave-count already completed which is also matching to the major wave B of the more global wave-count. Now when Litecoin moves below the lower-boundary and closes there as it is shown in my chart this will complete the whole formation as a bear-flag and it will lie ground for the wave C to be established which will exaggerate and protract with bearishness to the downside, this bearish pressure will move on till there is support found in which Litecoin has the ability to stabilize and back-up again moving on to test upper resistances again. This will likely happen within the blue support-zone where also the ascending-trend-line is matching, when Litecoin manages to bounce within this zone it will lead to a good increase and testing of previous resistances from where the situation needs to be elevated anew, it will be an interesting journey ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best! "Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.