LITECOIN, Triangle Completion Points to Further Volatility!Hello Community,
as the year of 2022 is coming to an end the market shows up with important structures and developments that are necessary to watch and in this case there are coins in the market showing opportunities to move forward with. It is always necessary to look at the cryptocurrencies in the market with an increased pump potential in the market which other cryptocurrencies in the market do not show. In this case I detected a crucial formational structure developing in Litecoin with a determining potential to watch out, especially in the next times.
As when looking at my chart we can watch there how Litecoin recently completed this main ascending triangle formation with a breakout above the upper boundary and now Litecoin has come to an important point in the structure here as it is trading above the point of control marked in red within the volume profile in my chart, this is the point in which the most volatility is staying and as long as Litecoin holds above this area it is a good level and setup for further continuations to move forward with.
The longer Litecoin stays above this area and builds up as it is seen in my chart the stronger the preceding breakout and volatility continuation will be and once Litecoin also broke out above the upper boundary of the confirmational triangle this will be a setup from where Litecoin is going to accelerate heavily and activate the target zones seen in my chart. Once these targets have been reached it will be central on how Litecoin approaches the areas and if the volatility is high or not, in either of these scenarios further assumptions can be made.
In this manner, thank you everybody for watching. Let's move forward together.
The information provided is only educational and should not be used to take action in the markets.
