Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to break below its descending triangle, while Dogecoin needed to defend the $0.055-support over the coming sessions.
It was anticipated that Bitcoin will remain above $55,800, coincidencing with its 200-SMA level. BitTorrent Token had been projected to break under its downward triangle, while Dogecoin needed $0.055 to defend it during the coming sessions.
The bulls were expected to keep prices above the $55,800 level while the King’s coin was bearish in last 24 hours. This level coincidentally coincided with the 200-SMA (green), and over the coming sessions a collection of trading volume worked against a disconnect. Recent analysis has shown that this time no correction will be made as the market gained strength before falling by $60k north.
This did not mean, however, that an immediate breakup would happen. In fact, over the last two weeks the OBV trend has decreased and suggested that some sales were made in the BTC market. In the mean time after a bearish crossover, the MACD line moved below the half-mark. When the price is moving south, there was a different support region of $53,466.
BitTorrent Token formed a descending triangle during the 4-hour schedule after forming a series of lower elevations. A breakdown would probably push BTT below its support of $0.0068.
The RSI moved from the overpurchased country south, but remained stable at 47. The histogram showed a weakening momentum, although the MACD line was below half line. Nevertheless, the bulls faced an uphill battle if they defend the bottom trendline, especially since the trading volumes had diminished by 40 percent , at the time of writing.
Since Dogecoin’s broader market pullback by the end of February, the 4-hour timescale has increased higher and higher prices. DOGE formed nearly two identical twin peaks over the course of the last week and a single candlewick breaks down at $0.067. A slip below $0.055 could however make DOGE bearish.
The MACD showed a bearish crossover and the press-time support was in danger of flipping to a line of resistance. The Chaikin Money Flow, meanwhile, was above halfway through the tide, with strong inflows of capital into cryptocurrency.