Bitcoin, Ethereum & Litecoin - American Wrap 6/4

June 4, 2020 4:17 pm
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Bitcoin, Ethereum & Litecoin - American Wrap 6/4

Bitcoin Price Analysis: BTC/USD approaching $10,000 again – Confluence Detector

With Bitcoin getting close to the critical $10,000 resistance level, it’s important to look for areas and points of resistance around this level. BTC/USD is trading at $9,800 at the time of writing.

The Technical Confluence Indicator is not showing a lot of resistance points towards $10,000. The major resistance area is close at $9,821 where the Pivot Point 1 Week R1 is currently standing.

Ethereum Market Overview: ETH/USD keeps a bullish trend while Grayscale’s Ethereum trust shows 679% YTD returns

Ethereum looks strong and is trading at $245 at the time of writing. After a quick dip today, bulls managed to buy it back and create a bullish reversal candlestick. ETH/USD is in a daily uptrend and only facing two major resistance levels at $247.14 and the high set on June 2 at $253.47.

Litecoin Technical Analysis: LTC/USD is inside a daily symmetrical triangle waiting for a clear breakout

Bulls can find a clear resistance level at $49.92, the high set on June 2 before the massive rejection. Unfortunately, that’s not the only resistance point as Litecoin formed another high at $50.87 back on April 30. The daily RSI has cooled off and LTC continues trading above the 12-EMA and the 26-EMA on the daily chart. The nearest and most important support level is the low on June 2, at $44.54, marked with the green horizontal line.

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