Welcome to this analysis about Litecoin, we are looking at the 1-hour timeframe perspective, the recent events, the current formational structure and what we can expect the next times. Litecoin has a differential structure to the other cryptocurrencies which is important to note here as it forme a new high already recently while other cryptocurrencies like Ethereum or Bitcoin did not do this and stayed below this high, therefore I detected all the important levels and likely outcomes we should consider with Litecoin and the upcoming perspectives.
When looking at my chart we can watch there the major triangle Litcoin is forming here marked in orange in my chart and above the first ascending-trend-line and marked in blue, beside that Litecoin has formed the coherent wave-count within the formation. Now there are basically two possible outcomes here which will develop with the proper confirmation, the first is when Litecoin moves above the upper-boundary and closes there to follow up with further bullishness as it is seen in my chart, the second one will show up when Litecoin moves below the lower-boundary and also below the first ascending-trend-line in blue when Litecoin also closes below the 65-EMA in blue this will completely confirm the bearish perspective and show up with the further conclusions. In the structure formed by Litecoin here it is from high importance to wait on the proper confirmation before moving into the right direction either way it is just highly speculative. When litecoin has shown up with this confirmation it will activate the projected targets, for now it is necessary to keep patient and look at how the suggested developments determine here.
n this manner, thank you, everybody, for watching this analysis, great contentment for everybody supporting, have a good day, 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 markets.
Awesome chart. At what point in the bullish breakout would you sell litecoin?
AIRFOREXONE_
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nice work !
petter5802
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Looking to be following the bullish path for now. It will be fun to see where it goes!
ferGOD
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helo
ferGOD
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D_Hartman
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Vince I love your insight. I wonder if the 1H scale is just too narrow at this time to see the course. A lot of these wedges are based on all the tension across the board as BTC pushes 20, esp that dip. Again, love your stuff!!!!