Litecoin, How This Main Triangle-Breakout Can Establish!

Apr 3, 2021

Hello Traders Investors And Community,

Litecoin recently has shown up with some initial solid bullish conclusions on the more local timeframe perspectives as already suggested in the previous analysis. From the more global perspective now I discovered a very interesting formation that can be the source of a great breakout when Litecoin manages to continue to show up with the right price-actions. In comparison to the rest cryptocurrency market, Litecoin has definitely some good potentials when the formation finally completes as not every currency is building such formations nevertheless it is necessary to keep patient for the proper validations before finally moving in the right direction, in this case, I discovered all the important levels and likely destinies we should consider.

As when looking at my chart now we can watch there how Litecoin has established this massive symmetrical triangle formation marked with the boundaries in black. Within this formation Litecoin has completed the coherent wave-count with the waves A to C in the triangle and now since the wave C finished moved into the upper-boundary and testing it, the pace with which this happened was certainly strong and therefore the possibility is given that Litecoin manages to form the breakout out of this pace. The final confirmation will happen when Litecoin closes above the upper-boundary as is marked in my chart, when this does not happen right away and Litecoin firstly pulls back this does not mean the breakout is out of sight, then it will be necessary and inevitable that Litecoin holds the support marked in blue in my chart where the EMAs also lie, when Litecoin then bounces in this zone it can be the proper origin of the final upside-breakout otherwise when Litcoin does even not hold the blue support this will lead to a further continuation and testing of the lower boundary from where the situation needs to be elevated anew and how a potential stabilization can set-up from this zone.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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.