Bitcoin [BTC] and Litecoin [LTC] posted major gains and consolidated above its resistances and exhibited fresh upward trends. The largest crypto asset on CoinMarketCap, BTC, held a market cap of $88.61 billion and was priced at $5,026. BTC registered a 24-hour trading volume of $16.36 billion, at press time. The digital gold rallied by 1.25% against the US dollar over the past 24 hours. However, it recorded a major surge of 21.98% over the past seven days.

Litecoin [LTC], the fourth largest cryptocurrency, registered a market cap of $5.37 billion and a 24-hour trading volume accounting for $3.32 billion. The silver crypto was valued at $87.49 and exhibited a minor rise of 0.02% over the past 24 hours, while registering a rise of 43.12% over the week.

1-day BTC chart

Source: TradingView

Bitcoin’s one-day chart exhibited a major downtrend from $6,459 to $4,186, while no uptrend was observed. The support for the crypto-asset was found at $3,902 and $3,602. The immediate resistance for the BTC daily chart stood at $5,663 and $6,562.

Bollinger Bands: The mouth of the bands was diverging, projecting a potential price breakout for the digital coin.

Awesome Oscillator: The closing bars of the indicator were green and suggested a bullish phase for the coin market.

Chaikin Money Flow: The CMF was well above the zero-line, suggesting that money was flowing into the coin market.

1-day LTC chart

Source: TradingView

The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and from $45.68 to $60.31, which was followed by a minor correction. A minor downtrend from $56.52 to $34.60 was also observed. The immediate resistance for the coin was found at $90, while the support for LTC stood firm at $28.66 and $23.64.

Parabolic SAR: The dotted markers were oriented below the candles, predicting a bullish phase for the silver crypto.

Klinger Oscillator: The reading line was also above the signal line and pictured a bullish pattern for LTC.

MACD: The MACD line was also above the signal line, suggesting a bullish trend for the coin.

Conclusion

Bitcoin [BTC] exhibited strong bullish projections and was joined by its silver counterpart Litecoin [LTC]. Additionally, BTC was trading above $5,000 and another price rally above the fresh resistances was predicted by the BB indicator.


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(Excerpt) Read more Here | 2019-04-06 19:33:44
Image credit: source

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