Weekly Crypto Update: Bitcoin Went Down For The Day, But Unchanged For The Week (Video)

Finally, the crypto week is over. It has been pretty uncertain, we had a few down days and it looked rather negative, but Bitcoin and many of the altcoins had a comeback at the end of the week and ended on a good note.

Here is the daily Bitcoin chart:

Comment: Bitcoin was down about 2,5% for the day but we managed to hold the lower ascending trendline. Bitcoin also made a higher low but a lower high compared to yesterday so a bit of a mixed day. Overall, I would say that we are on the right track here. However, tomorrow, we want to close above 3750 in order to hold this trendline.

Now, lets look at the weekly Bitcoin chart:

Comment: As you can see, Bitcoin was unchanged for the week and we got a doji sign. I would say that this is a positive sign, we managed to maintain the price for the whole week so the probability of a good next week is in my opinion bullish.

Ok, we are done with Bitcoin, what about the altcoins? Well, they are a mixed bag, but lets have a look at Dash:

Comment: Dash was up 6,5% for the week, so clearly better than bitcoin. However, the candlestick does not look super bullish, Dash closed the week at 333 but the high of the week was 370.

Nevertheless, Dash is looking bullish and look out for a new ATH. The old ATH is at 415.

Lets finish with Litecoin, here is the weekly:

Comment: Litecoin was down about 6% for the week. Not good, but I do believe that Bitcoin will steer the ship this coming week, so if Bitcoin will go up, Liteocoin will tag along. If we look at the chart, we can see that price is still above the bollinger band median and there is a lot of support between 45-48 USD.

Thats it for today, there is more in the video, so make sure that you dont miss anything.

Happy trading!