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After a brief consolidation yesterday, Litecoin continued its wave which began on Sunday.
The initial wave was preceded by a reverse trend of head and shoulders and, after the 10% increase compared to the dollar, other important cryptocurrencies followed.
The big question for today's analysts is if we are seeing a repetition of this?
The wave that took place at Bitcoin on Sunday failed to exceed its previous maximum at $ 4240, as shown by the red arrow on the top graph.
A surge in the follow-up that leads to price action above this point would be bullish for price action.
However, if the price exceeds this point, it is likely to meet some resistance at $ 4350.
From $ 4350 to $ 4550 it was a consolidation area during the bearish crash that occurred in mid-November before prices continued to fall. It would be a probable liquidity area of the seller.
The short-term 4-hour Bitcoin chart shows price action that begins to increase in recent spark plugs.
If Litecoin is the market leader, this increase is likely to accelerate during the coming candles.
If the price drops below $ 4000, the next key support level to monitor is $ 3700.
Key Takeaways:
- Litecoin is again on the rise and could pave the way for a bitcoin surge.
- The last wave of Bitcoin failed to exceed the previous maximum at $ 4240.
- If the price can exceed $ 4240, $ 4350 is expected to come into play as resistance. If the price falls below $ 4000, $ 3700 is the next support area to monitor.
Latest news about Bitcoin:
| NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset. |
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