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Bitcoin (BTC) and Litecoin (LTC) Price Outlook, Charts and Analysis:
Bitcoin (BTC) price chart showing increasing bullish bias. Litecoin (LTC) nearing a technical breakout. IG Client Sentiment Data shows how retail are positioned in a variety of cryptocurrencies. See how daily and weekly positioning can affect our trading bias.
Bitcoin (BTC) trade data shows 80.9% of traders are net-long.
Ripple (XRP) trade data shows 97.7% of traders are net-long.
Ether (ETH) trade data shows 92.1% of traders are net-long.
Litecoin (LTC) trade data shows 92.2% of traders are net-long.
Bitcoin (BTC) Still Needs to Break $5,648 to Trigger Next Leg to $6,000+
Bitcoin continues to move higher and is setting itself up for a push at $6,000 or more with the chart continuing to highlight a bullish bias. Last week we identified a gap that needs to be filled between $5,648 and $6,111 and this remain relevant with a close above $5,648 the first stage. We also have a ‘golden cross' being made 50-day ma moving above the 200-day ma a bullish technical sign as momentum continues to turn positive. Higher lows continue to be made along with a series of higher highs off the February 8 candle.
A Guide to Day Trading Bitcoin and Other Cryptocurrencies.
Bitcoin (BTC) Daily Price Chart (October 2018 April 23, 2019)Litecoin (LTC) Bullish Descending Triangle?
Another chart that is now showing a positive set-up after drifting sideways to marginally higher over the past weeks. The sharp rally on April2/3 that sent LTC from $60 to nearly $100 has formed the side of a descending triangle with the base around $73. This base has been rejected twice so far. As the price nears the downward slope a sharp break to the upside becomes more likely, especially if LTC moves back above the 20-day ma. According to the CCI indicator, Litecoin is just turning out of oversold territory, adding to the bullish hue.
Litecoin (LTC) Daily Price Chart (August 2018 - April 23, 2019)
Traders may be interested in two of our trading guides Traits of Successful Traders and Top Trading Lessons while technical analysts are likely to be interested in our latest Elliott Wave Guide .
What is your view on Bitcoin and Litecoin bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at or via Twitter @nickcawley1 .
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