BTC/USD Daily Chart Technical Analysis
Forecast
Bitcoin is forming a bull flag pattern which is a pause that refreshes after a breakout.
Analysis
BTC/USD traded through trend line resistance and is forming a bull flag pattern which is a pause that refreshes higher. Prices are poised to test resistance near the 9,195 highs. A close above this level would be a signal to buy. Support on BTC is seen near the 10-day moving average at 8,420. Momentum as reflected by the MACD is positive as the MACD (moving average convergence divergence) histogram is printing in the black with and upward sloping trajectory. The fast stochastic is also reflecting positive momentum with a crossover buy signal but the current reading of 94 is above the overbought trigger level of 80 and could foreshadow a correction.
Up-side Target: 9,195
Down-side Target: 8,420
LTC/USD Daily Chart Technical Analysis
Forecast
Litecoin prices are consolidating and are forming a bull flag continuation pattern.
Litecoin prices are poised to break and are forming a bull flag pattern which is a pause that refreshes higher. Support is seen near the 10-day moving average at 140.90. Momentum is positive as reflected by the MACD histogram which is printing in the black with an upward sloping trajectory. The fast stochastic has surged higher reflecting accelerating positive momentum, but the current reading of 94, is above the overbought trigger level of 80 and could foreshadow a correction.
Up-side Target: 157
Down-side Target: 140.90
BCH/USD Daily Chart Technical Analysis
Forecast
Bitcoin Cash is breaking out to fresh highs and poised to continue to climb.
Bitcoin Cash prices are breaking out and poised to test the February highs near 1,654. Support is seen near the 10-day moving average at 977.9. Momentum is positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices. The fast stochastic is also surging but printing a reading of 92.7 above the overbought trigger level of 80 which could foreshadow a correction.
Up-side Target: 1,654
Down-side Target: 977.9
