Bitcoin, Bitcoin Cash and Litecoin Price Analysis
BTC/USD Daily Chart Technical Analysis
Forecast
Traders took profits on most crypto currencies on Wednesday, but the trend is still upward.
Analysis
BTC/USD ran into resistance near the 200-day moving average at 9,894, which coincides with a downward sloping trend line. Prices have edged back and will likely test short-term support near the 10-day moving average at which could be a buying opportunity at 8,657. Short-term momentum has turned negative as the short-term stochastic generated a crossover sell signal in overbought territory which points to accelerating negative momentum.
Up-side Target: 9,894
Down-side Target: 8,657
BCC/USD Daily Chart Technical Analysis
Forecast
Profit taking on BCC occurred near the February highs sending prices lower.
BCC/USD moved lower on Wednesday after running into resistance on Tuesday near the February highs at 1,669. Support is seen near the 10-day moving average at 1,098. Short-term momentum has turned negative as the short-term stochastic generated a crossover sell signal in overbought territory which points to accelerating negative momentum.
Up-side Target: 1,669
Down-side Target: 1,098
LTC/USD Daily Chart Technical Analysis
Forecast
Litecoin prices reversed course forming an outside day reversal and will likely test target support level.
LTC/USD reversed course on Wednesday after recapturing the 200-day moving average on Tuesday. The reversal back through the 200-day moving average makes this level short-term support near 154.40. Support is seen near the 10-day moving average at 146.25. Short-term momentum has turned negative as the short-term stochastic generated a crossover sell signal in overbought territory which points to accelerating negative momentum.
Up-side Target: 154.5
Down-side Target: 146.5
Was this helpful?
0 found this helpful · 0 did not
Thanks for your feedback.
Where to trade this market
Brokers compared on regulation, platforms, and account access.
eToro Social and copy trading
4.7
FCACySECASIC
Min. deposit From $10
Spread Variable
Platform Web / App
AvaTrade Multi-asset CFD broker
4.5
CBIASICCySEC
Min. deposit $100
Spread From 0.9 pips
Platform MT4 / MT5
Plus500 CFD trading platform
4.3
FCACySECASIC
Min. deposit Varies
Spread Variable
Platform WebTrader / App
Relatedanalysis
Disclaimer. This content is for informational and educational purposes only. It does not constitute financial advice, a recommendation, or an offer to buy or sell any security or digital asset. Past performance does not guarantee future results. Cryptocurrency investments are subject to high market risk and volatility.