LOOPRING, Massive BULL-FLAG Forming, How It Completes!

LOOPRING, Massive BULL-FLAG Forming, How It Completes!

Hello Cryptocurrency Community,

Welcome to this altcoin-trading-analysis about LRC (Loopring), we are looking at the 4-hour timeframe perspective. As when looking at my chart we can watch there how Loopring is forming a very interesting structure here as it previously increased with bullish volatility and shot to the upside increasing with volume and spread. Now as Loopring firstly pulled back it moved on to initiate this main formation in the structure which can be considered as a descending-channel-formation. Within this descending-channel-formation Loopring has a coherent wave-count with the waves A to D almost already completed. Now as Loopring moved on with the wave-count we can see the wave E is forming now within this whole structure and already begun to develop the wave A and B in the local structure of this major wave E. Once the wave-B has been completed which will happen when Loopring finalizes this local bear-flag Loopring will move on further with the wave-E and complete the whole wave-count within the confirmational-bounce-support marked in my chart where several supports coming together. When Loopring manages to bounce within the support and move on bullishly to finally close above the upper-boundary this will complete the whole descending-channel as a bull-flag and it will be the origin for further continuations to the upside for Loopring, in this case, there are some great potentials given, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
“Great fortune is when opportunity meets preparation.”

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