Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins remain bullish despite some bearish resistance

Bitcoin [BTC] has been facing a stagnant market after a brief price pullback, following BTC breaching $8,000. The 24-hour trading volume of BTC was $22 billion, as the coin traded around the $7,900-range. Litecoin [LTC] followed suit as the 24-hour volume was $3.4 billion, while the coin traded at $92.20. LTC held a market cap of $5.62 billion, at press time.

1-Day BTC chart

Source: Trading View

The one-day chart for BTC showed four uptrends: $3181.64 to $3,354.97, $3,352.79 to $3,693.03, $3,695.46 to $3,894.71 and $4,099.98 to $5,110.15. The downtrend was from $8,415.20 to $5,791.55, at press time. The support stood at $4,253.08.

The Parabolic SAR had the dotted markers above the candlesticks, depicting a bearish market

The MACD line underwent a bullish crossover

The Relative Strength Index was seen above the 50-point mark and indicated high buying pressure in the market

1-Day LTC chart

Source: Trading View

The Bollinger Bands showed expanding volatility in the LTC market

The Chaikin Money Flow showed a relatively equal money inflow and outflow

The Awesome Oscillator depicted a bullish buying opportunity in the market, at press time. However, a few red bars in the histogram suggested some bearish activity

Conclusion

Both Bitcoin and Litecoin remained largely bullish. However, some bearish trading cycles were expected to be seen

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