VincePrince

Litecoin Is Showing Some Worthwhile Potential In The Structure!

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Hi, Welcome to this analysis where we are looking at litecoin and its 2-hour timeframe perspective, the recent events, the current formational structure and what we can expect the next times. Compared to other altcoins in the cryptocurrency space these times litecoin is showing some differential signs while other coins looking rather more bearish and also building such setups litecoin is forming some good volatility potentials upcoming as also already the volatiltiy increase with last price moves litecoin can show up with some solid potential here, this is why we need to differentiate the structure to other currencies therefore I detected the important levels and possible outcomes we can expect in litecoins destinies here.

Accumulational Schematics And Current Structure:
As you can watch looking at my chart litecoin is trading in this big ascending-channel-formation where it also has build the accumulational channel within the lower boundary range where litecoin already confirmed a first accumulation that turned out to be the origin of a wave to the upper boundary, at the moment litecoin is building a very same accumulational channel as it is marked in my chart, this can be similar to the first one the origin of tests of higher levels. Besides that litecoin has formed a bear-trap before going below the lower boundary and then bouncing into the channel again which is a strong bullish sign signaling that bulls have gained strength in this level and more is possible to follow up.

Outlook And Possible Steps:
While litecoin now developed this strong bear trap and forming the second major accumulation here there is some potential given which is already showing up with a established wave-count to the upside, when this wave-count leaves the accumulational channel it can follow up with increased speed which will lead into the middle-line-target as it is marked in my chart in orange, from here there is a pullback and test of the remaining support possible and when this test is successful it can provide the next wave to the upside as it is marked in my chart, when the price continues strongly with its established pace this can lead litecoin to test the upper boundary anew and reach it as it is marked with the projected range possibility in my chart.

In this manner, thank you for watching, good day my friends, and support for more market insight.
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Information provided is only educational and should not be used to take action in the markets.
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Comments

Great chart, I always learn a lot from your analysis. Thank you.
+1 Reply
VincePrince ZenoAgropolous
@ZenoAgropolous, Thank you, great to hear it, all the best zeno.
+1 Reply
Nice work!
Reply
VincePrince umeshjain118
@umeshjain118, Thank you!
+1 Reply
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