Bitcoin and Litecoin Price prediction for today: BTC/USD key level at $10660, LTC/USD looking at $192,97


  • Bitcoin trading in the lows' area of the current technical outlook.
  • Key levels for BTC/USD: $8500 on the downside, $10660 on the upside.
  • Litecoin has a vital support at $166.50, while key resistance is at $192.97.

European trading has started with BTC/USD moving around $9110 after the sudden movement on the way down that happened yesterday early in the American session. The technical outlook for today seems to propose tight ranges, as indicators are mostly bearish and have not much room to move without getting in trouble.

BTC/USD 1H chart

BTC/USD

Bitcoin price is trading between the short-term trendline that rules the price action and the first support, a range between $8850 and a middle zone at $9510 that has acted both as support and resistance during the most recent trading sessions in the main Cryptocurrency. A possible long entry at a very-short term could be triggered in the aforementioned support, with a stop at $8760 and a quick target at $9520. The second target should be located at $9510.

For bearish entries, the signal in case the price breaks to the downside is located at $8760, with the target at $8500. Below that level, a possible increase in the speed of price and the primary target at $7500.

MACD in the Bitcoin 1-hour chart is trading below the equilibrium line, with a possible cross down. We observe a divergent behavior following the lows from last Friday that would support any bullish attempt.

Directional Movement Index shows a slight edge to the sellers, but with a setup very prone to swings in the bias. ADX is at 21.4, showing a very light bearish trend.

LTC/USD 1H chart

LTC/USD

Litecoin is trading inside a tight range between $166 and $192 since Friday afternoon. The LTC chart is not following the same pattern than the BTC one, with the LTC/USD lacking any kind of structural trend. We could set bearish positions up below the current support at $174.61, with stops above $176.80 and the target at $166.50. Above the $182 price area, there is a clear path to the next resistance, already signaled at $192. This would be a lengthy stop, as the guarantee level is far away, at $166. If you're looking for closer stops, we recommend looking at closer timeframes.

MACD in the 1-hour Litecoin chart shows how the price has a very horizontal profile. There are not divergences that support bullish openings.

Directional Movement Index shows a clear advantage of the sellers, with real possibilities that the D- might overcome the ADX, which would increase the control of the sellers. Buyers have increased in the last trading hours, probably due to the clarity in the bullish setups and the closeness of the stop. The ADX is right at the 24.7, a light trend level but with diminishing profile for the upcoming periods.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD crashes to new 2020 lows amid ECB dovishness, coronavirus fears

EUR/USD is trading below 1.1050, at the lowest since early December. ECB President Christine Lagarde refrained from acknowledging the recent economic improvement. Fears of the spread of the coronavirus are weighing on markets.

EUR/USD News

GBP/USD pressured toward 1.31 amid risk-off mood

GBP/USD is trading around 1.31, off the highs. Coronavirus headlines are sending traders to the safety of the US dollar. Speculation about the next BOE move is rife.

GBP/USD News

Top 3 Price Prediction Bitcoin, Ethereum, XRP: Set for a dive before the next big bull market

The first initiative comes from WhatsApp. Users of Facebook’s popular instant messaging application will be able to exchange Ether among themselves and other tokens that function over the ERC20 protocol.

Read more

Crude Oil Futures: Downside looks unabated

Traders added around 8.3K contracts to their open interest positions on Wednesday, reversing two consecutive pullbacks. Volume, instead, prolonged the choppiness and shrunk  by around 115.3K contracts.

Read more

USD/JPY drops to fresh eight-day lows near 109.50

USD/JPY extends losses and trades close to an eight-day low near 109.50 in a relatively risk-off environment, with the media headlines full of the coronavirus as it spreads internationally. Bears can look to the golden ratio around mid-108s.

USD/JPY News

Forex Majors

Cryptocurrencies

Signatures