Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bitcoin continues to hold middle ground as Litecoin sides with the bulls

2019-4-21 13:30

Bitcoin [BTC], the largest cryptocurrency in the ecosystem, witnessed a minor fall at press time with the valuation falling by 0.11 percent. The coin experienced a major price hike recently which pushed forward its valuation north of $5,000. The coin was priced at $5,338 at press time.

Litecoin [LTC] enjoyed a lucrative surge during the bull run, which saw it’s valuation pump tremendously. However, the coin exhibited a devaluation of 2.10 percent at press time. The coin recorded a market cap of $4.96 billion and the coin was valued at $80.74.

Bitcoin 1-day chart:

Source: Trading View

The one-day chart of Bitcoin demonstrated a major uptrend which extended from $3,651.1 to $5,293.7.  The support line was at $3,434.1. The resistance line formed after the surge was at $5,312.4, however, at press time, Bitcoin had breached a new resistance and the valuation went up to $5,338.4.

The Bollinger Bands indicated a less volatile period for the coin’s valuation as the markers converged on the charts.

The MACD line remained below the red line, which implied a bullish trend. However, the lines remained at close proximity which opened up the possibility of a trend reversal.

The Chaikin Money Flow of CMF line was above the zero-line on the chart, which pointed at the fact that capital was coming into the market.

Litecoin 1-day chart:

Source: Trading View

The one-day chart of Litecoin presented multiple supports at press time. The initial support was at $44.084 and the support line was at $61.225. The uptrend extended the valuation of the coin from $62.354 to $93.124, but the momentum failed to build up as the coin experienced devaluation.

The Parabolic SAR markers remained under the candlesticks, which pointed to a bullish trend for the coin.

The Relative Strength Index or RSI exhibited an equilibrium between the buying and selling pressures in the market.

The Fisher Transform pointed towards a bullish trend for the coin as the blue line remained above the red line.

Conclusion:

The indicators pointed towards a neutral market for Bitcoin [BTC], however, the indicators for Litecoin [LTC] were on the positive side as they pointed towards a bullish market.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bitcoin continues to hold middle ground as Litecoin sides with the bulls appeared first on AMBCrypto.

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bitcoin litecoin price btc ltc analysis bulls

Источник: ambcrypto.com

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