It will be Bitcoin [BTC] Do you follow Litecoin's lead again?

Litecoin daily chart – Source:

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?
Daily Bitcoin Chart – Source:

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.
Bitcoin 4-hour chart – Source:

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.

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