Bitcoin was expected to stay 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 had to defend the USD 0.055 support in the upcoming sessions.
While the king coin has been bearish for the past 24 hours, the bulls were expected to keep the price above the $ 55,800 support level. This level also coincided with the 200 SMA (green) and a pickup in trading volume countered a possibility of default in the upcoming sessions. A recent analysis found that there may be no correction this time as the market gained strength before breaking north of $ 60,000.
However, this did not mean that an outbreak would happen immediately. Indeed that OBV has seen a lower trend over the past two weeks, indicating that there has been some sales in the BTC market. Meanwhile it is MACD The line moved below the half-mark after a retrograde transition. If the price moves south, another region of support was available at $ 53,466.
Bit torrent [BTT]
Over the 4 hour period, BitTorrent Token formed a descending triangle after forming a series of lower levels. A breakdown of this pattern would likely pull BTT below its $ 0.0068 support.
The RSI moved south of the overbought region but stabilized at 47. While the MACD The line was below half the line, the histogram noted a certain amount of attenuation. Even so, the bulls faced an uphill battle if they defended the bottom trendline, especially since trading volume was down 40% at the time of writing.
Since the broader market decline in late February, Dogecoin has made higher highs and higher lows over the 4 hour period, and the price has tended to move higher. Over the past week, DOGE formed almost two identical twin peaks, with a single candle breaking north of the $ 0.067 resistance. However, a dip below $ 0.055 could bring DOGE into bearish territory.
The MACD showed a bearish crossover and support for the pressure period threatened to tip resistance. Meanwhile it is Chaikin cash flow stayed above half the line and showed strong capital inflows into the cryptocurrency.
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