Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC ride the bull wave despite correction concerns

After the prices’ roller coaster ride last week, Bitcoin [BTC] recorded its highest search volume on Google over the past year. The king coin was priced at $7,827.95 with a market cap of $130 billion, at press time. The 24-hour trade volume came up to be $24.6 billion, out of which BitMEX contributed 10.76% via XBT/USD pair. Bitcoin [BTC] fell by 1.01% over the last 24-hours, at press time.

[LTC] was priced at $90, with a market cap of $5.56 billion. The 24-hour trade volume came up to be $3.4 billion out of which, Coineal contributed 10.28% via LTC/BTC pair. Litecoin [LTC] fell by 0.82% over the last 24 hours, at press time.

1 Day- BTC

Source: TradingView

The 1 day chart for BTC showed an uptrend  from $5,5560 to $8,203.32. The support points stood at $3,173.62, $3,495.15 and $4,990.97. The point of resistance was seen at $8,192.92.

The indicated in price as the bands were diverging.

The Chaikin Money Flow showed that the flow of capital into the market was more than the outflow, indicating a bullish trend.

The MACD displayed a bullish trend, but hinted at a bearish crossover.

1 Day- LTC

Source: TradingView

The 1 day chart for LTC showed an uptrend from $55.88 to 102.26. The support points were at $22.44 and $29.71. The resistance points stood at $95.34 and $102.15.

The indicated a bullish trend as the dotted markers were formed under the candlesticks.

The MACD indicator showed was bullish, while suggesting an imminent bearish crossover.

The Relative Strength Index indicated a bullish trend as it was close to the overbought zone. But, the graph was seen to moving downwards.

Conclusion

The 1 day chart for BTC  and LTC displayed a bullish trend, but hinted at an imminent bearish move as indicated by the aforementioned indicators.

The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC and LTC ride the bull wave despite correction concerns appeared first on AMBCrypto.

Post written by our friend Rishi Raj and Syndicated from ambcrypto
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