2019-5-21 14:45 |
Bitcoin [BTC] has been facing a stagnant market after a brief price pullback, following BTC breaching $8,000. The 24-hour trading volume of BTC was $22 billion, as the coin traded around the $7,900-range. Litecoin [LTC] followed suit as the 24-hour volume was $3.4 billion, while the coin traded at $92.20. LTC held a market cap of $5.62 billion, at press time.
1-Day BTC chart
Source: Trading View
The one-day chart for BTC showed four uptrends: $3181.64 to $3,354.97, $3,352.79 to $3,693.03, $3,695.46 to $3,894.71 and $4,099.98 to $5,110.15. The downtrend was from $8,415.20 to $5,791.55, at press time. The support stood at $4,253.08.
The Parabolic SAR had the dotted markers above the candlesticks, depicting a bearish market
The MACD line underwent a bullish crossover
The Relative Strength Index was seen above the 50-point mark and indicated high buying pressure in the market
1-Day LTC chart
Source: Trading View
The uptrends were between: $22.13 and $30.58, $32.45 and $45.28, $45.10 and $60.34, and between $60.34 and $66.22. The downtrend was from $89.90 to $61.74. The support was at $67.68.The Bollinger Bands showed expanding volatility in the LTC market
The Chaikin Money Flow showed a relatively equal money inflow and outflow
The Awesome Oscillator depicted a bullish buying opportunity in the market, at press time. However, a few red bars in the histogram suggested some bearish activity
Conclusion
Both Bitcoin and Litecoin remained largely bullish. However, some bearish trading cycles were expected to be seen
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins remain bullish despite some bearish resistance appeared first on AMBCrypto.
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