Welcome to this update-analysis about LITECOIN 4-hour timeframe perspectives, we are looking at the recent events since the previous analysis according to this structure, what LITECOIN is likely to show up with now and what outcomes there can be determined. The final major C wave marked in red together with the coherent minor C wave has now fully established as expected and ran exactly into the resistance-cluster which I already mentioned, if you did not see this analysis already I highly recommend you to watch it by going to my account and look at the analysis to have a full-depth-overview. As LITECOIN has now approached these clusters there can come some preliminary changes and alterations in the trend with a possible reversal therefore I detected all the significant levels and outcomes important to consider here.
As you can watch in my chart LITECOIN already formed this coherent pull-back within the red resistance-cluster and what is also worthy to mention here is that the volume increased this means a lot of pressure was there already, now LITECOIN can form the pull-back as it approached these several resistances and this pullback will go on till there is serious support found which can reverse the whole dynamic, this can happen in the first preliminary level marked in orange in my chart where LITECOIN has the middle-line-support and also horizontal support, when this level does not hold LITECOIN will continue with bearishness till the second preliminary level within the lower boundary of the channel, both levels are marked with S1 and S2, when LITECOIN approaches these it has to be elevated how strong a possible reaction there can look like.
In this manner, thank you for watching, good day my friends, and support for more market insight. "There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.