LTCUSD, Forming Some Reversal Possibilites In The Current Range!

Hello Traders Investors And Community, welcome to this cryptocurrency-update and litecoins 4-hour timeframe perspective, the recent events, the current formation, what we can anticipate and what are possible opportunities lying hidden in the developing market environment. The cryptocurrency space currently forms various different formations, setups and possible outcomes where some currencies lying ground way below established highs, while other rallying and others just looking rather weak and ready to form downside movements, although these environments and mechanisms should be differentiated in the individual case it is really good to watch that our elite channel making good profits also in such periods. In litecoin I found some interesting and agitable signals providing some signs for possible further outcomes the next time therefore it is important to look at what litecoin can do to have a solid execution plan.

As you can watch when looking at my chart is that litecoin is trading in this important triangle-base-formation which can proof meaningful when it has confirmed in the proper direction it can show an outcome with potential. You can watch in my chart the upper and lower boundary of this triangle-base-formation marked in blue where it is consolidating and getting narrower in amplitude by time. This movement can go on for some time but there will be a heavy breakout establishing as this is almost often the case with such market movements. In this case, litecoin is still trading below the 500-EMA you can watch marked in green which is still in the bearish direction measured by other cryptocurrencies which are above this level and therefore already in a solid-state but this can change when litecoin crosses this meaningful EMA with an extensive movement to the upside.

Taking all these factors into consideration litecoin currently trades in a state where it is forming a possible reversal base bottom from where it can form the potential to reverse. Although this possibility is decently given at the moment the bearish case can still occur when litecoin crosses below the lower boundary and therefore through several important support lines, therefore it is from high importance to wait on the confirmation you can watch in my chart above the upper boundary before considering the further appropriate action and possible trade entry, this means to not get distracted by the speculative approach seen to often these times and trade sustainable to finally succeed because this is what it should be at the end of the day. When litecoin confirms the mentioned scenario rightfully it will have some interesting movements given further in the schedule.

In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
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Information provided is only educational and should not be used to take action in the markets.