Litecoin, Trades In Decisive Channel-Formation, Important Level!

Hello Traders Investors And Community,

Litecoin is one of the more volatile pairs these times as it formed several peaks and valleys the last weeks and months with almost exaggerated volatile movements and forming now this decisive formation which will show the upcoming outcomes, currently, there are some mixed signals in the structure which need to be elevated properly, therefore, I detected all the important levels and likely upcoming price-actions we should consider at the moment with Litecoins established structure and its destinies.

When looking at my chart you can watch Litecoin forming this massive ascending-channel-formation marked in the blue lines, besides that Litecoin is forming a coherent wave-count within this ascending-channel-formation where the waves A-D already completed, furthermore, Litecoin has formed two major descending-channel-formations marked in my chart in black where it also established the wave-counts, currently, this second descending-channel-formation is ending with the major wave D within the back-up-cluster marked in my chart in blue in which Litecoin can find the support and form the final wave E from there when Litecoin manages to breakout above the upper boundary and show the ongoing conclusions, this final wave E will directly run into the upper-boundary-resistance-cluster marked in my chart in red where a reversal is likely to take place as there is still strong resistance lying, when this pullback in the structure shows up which is likely then it can be the origin for the final price-action that confirms the huge ascending-channel-formation.

The upcoming times Litecoin needs to show how it completes the second descending-channel-formation and after that shows up with the upcoming price-actions that complete the whole formation, currently, we should not underestimate the bearish case here as it will show up sooner or later when the whole formation finally completes this can lead to testing at least of the red trendline which is the point-of-control of the volume-profile where a back-up can possibly happen.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“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 market.