Bitcoin [BTC] Litecoin [LTC] Price Analysis Prediction

Hello everyone! before moving on to the video
we ask you to support us and subscribe to our channel please. Last week, the Litecoin and Bitcoin prices
tumbled for three main reasons. First, after more than doubling this year,
many investors started to sell their holdings to take profit. As this went on, many retail traders sold
their portfolios to avoid major losses. Second, the Bitcoin price also reacted to
a relatively bearish statement by Elon Musk, one of the key supporters of the currency. In a tweet, he lamented that the price of
Bitcoin and Ether had become a bit expensive. As such, some traders started to question
whether he was about to sell some of the Tesla’s coins. Third, and most importantly, cryptocurrencies
crashed because of the Treasuries market. In the past few weeks, the US Treasuries market
has seen a substantial sell-off that has pushed yields to the highest level in more than a
year. Today, the Bitcoin and Litecoin prices are
rallying because yields have retreated. The yield on the ten-year has dropped by more
than 3% while the 30-year has dropped by more than 2.30%.

Still, this trend could change tomorrow if
data shows that US inflation soared in Febraury. The daily chart shows that the Litecoin price
has bounced back lately. It has even formed an ascending channel that
is shown in red. The current price is slightly above the lower
side of this channel. Also, the price is being supported by the
25-day and 15-day exponential moving averages. Therefore, in my view, the Litecoin price
will keep rising as bulls target the upper side of the channel at $245. However, a decline below last week’s low
at $153 will invalidate this prediction. The Bitcoin price is trading at $54,100.

On the four-hour chart, the price is along
the middle line of the Schiff pitchfork tool. It is also slightly above the important resistance
at $52,544, which is the previous highest point. The price is also being supported by the short
and medium-term moving averages. Therefore, in my view, the Bitcoin price will
likely continue rising as bulls target the next key pitchfork level at $58,000. Subscribe to our channel and open notifications
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İn this video references an opinion and is
for information purposes only. It is not intended to be investment advice. Every investment and trading move involves
risk, you should do your own research while making a decision..

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