LTCUSD, Main Channel-Formation, How Sufficient Breakout Emerges!

Hi,

Welcome to this analysis about LTCUSD, looking at the 4-hour timeframe perspective. Litecoin in recent times is in a more or less volatile state in which it has shown up with several bounces to the up as well as to the downside, after such movements a major decisive volatile move will come up sooner or later that will lie ground for the further determinations, therefore it is necessary that Litecoin shows up with the right price-actions and when it does this can lead to solid breakouts. And in this case, I discovered all the important levels and likely determinations we should consider within the established structure and upcoming movements.

Structural Developments:
The main ascending-channel-formation shown in my chart marked with the black boundaries is the major reference-point Litecoin is developing in its structure, within this ascending-channel Litecoin has the coherent wave-count and almost already completed the waves A to C in the schedule, as Litecoin is now running directly into the upper boundary of the channel there is likely to come to a pullback to the downside that will test the lower levels in the structure from where Litecoin has the ability to back-up and bounce to the upside when this happens properly and Litecoin manages to show up with the right bullish alignments this can lead to a breakout and wave-C-extension.

Upcoming Determinations:
As when considering the main structure LTCUSD has established this is a structure on which LTCUSD has the ability to build on and show up with the great breakouts once it closes above the upper-boundary and shows up with further bullish continuations. When this does not happen and Litecoin closes below the lower-boundary this will initially invalidate the whole bullish structures and will show up with further testing of lower levels nevertheless this is not the most likely scenario to consider because the bounce to the upside is more likely in comparison to the already established bullishness, when LTCUSD shows up then with the breakout realistic targets will lie at the 270 zone, it will be an interesting development.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Good luck is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the market.