Even though it is not clear where Bitcoin will go in the future, there are signs that DOGE, LTC, LINK, and APE are getting more attention. The price of Bitcoin BTC has moved in a small range as traders try to predict where Bitcoin will go next. Analysts tend to be very negative during a bear market and make predictions that scare investors away. You can start your trading journey by investing in a reputable trading platform like BitQZ.
People have set many low goals for Bitcoin, with $6,000 being the lowest. This is because Bitcoin hasn’t made a big comeback. Even though anything can happen in a bear market, long-term investors might try different ways to buy coins with sound fundamentals.
People check out the market for cryptocurrencies every day. The first one was Coin360.
During a bear market, not every coin’s lowest price happens simultaneously. Traders should pay close attention to the currencies they want to trade and the cryptocurrency market.
When a new bull market starts, the cryptocurrency markets that led the way out of a bear market tend to do well in the new market.
1. BTC/USDT
In the past few days, bitcoin prices have stayed steady between $15,588 and $17,622. A bullish divergence is shown by the relative strength index (RSI). So there might be less pressure to sell.
Between $17,065 and $17,622, which is the exponential moving average (EMA) of 20 days, there could be a lot of opposition to the relief rally. If the price drops below the resistance zone, the Bitcoin/Tether (USDT) pair may stay in the range for a while longer.
If buyers can push the price above the zone of resistance, it could mean that the downward trend is about to end. If the uptrend goes above the 50-day simple moving average (SMA) of $18,600, the psychological level of $20,000 could be hit soon.
On the other hand, the downward trend could start again if the price goes in the opposite direction after hitting overhead resistance and then breaks below $15,588. The pair’s price may then go down to $13,554.
2. DOGE/USDT
On November 25, the price of Dogecoin broke through a level of resistance at $0.09. But on November 26, the bears caused the price to drop below the level again. On November 27, a group of buyers drove the price above $0.10, the previous resistance level at the 38.2% Fibonacci retracement level.
On the other hand, if the price moves in the opposite direction from where it is now, it will show that bears still see price increases as chances to sell the asset. After that, each unit of the pair could fall to $0.09. If this support breaks, the 50-day simple moving average (SMA), currently at $0.08, could be in danger.
People bought it, so the price went up. This means prices may have already gone up. The relative strength index (RSI) reached levels that showed it had been bought much more than it should have been because of the substantial rise. This means that there will either be a minor correction or a consolidation in the near future.
3. LTC/USDT
The price of Litecoin has broken above the level of resistance at $75, which is the first sign that the current trend might be changing. Bears tried to catch bulls by pushing the price back below $75, but buyers didn’t give up and fought against bears.
Bulls will try to get the price above $84, which is a level of resistance right now. If they do well, it might signify that good things are coming. The 20-day exponential moving average (EMA) of $67 and the RSI being close to the overbought zone are both signs that the best way to go is up. After that, there is a chance that the LTC/USDT pair will go up until it reaches the goal of $104.
If the price goes down from $84, on the other hand, the pair could fall into the support zone between $73 and $75. If this area of support breaks, the pair could go to the 20-day exponential moving average. The bears will have to push the price down below this support to catch the bulls, who are moving too quickly.
4. LNK USDT.
LINK’s price has gone back and forth between $5.50 and $9.50 over the past few weeks. The strong bounce off of the support level at $5.50 on November 21 shows that bulls buy when the price falls to this level.
The 20-day exponential moving average, $6.74, has started to rise, and the relative strength index (RSI) has moved into the “positive” area. This gives the bulls a small edge. The price is more likely to go up to $8.50 and then $9.50 if it stays above the 50-day simple moving average (SMA) of $7.15 for a long time.
On the other hand, if the price moves in the opposite direction and breaks below the 20-day exponential moving average (EMA), it will show that bears are active at higher levels. The LINK/USDT pair could then start to go back down toward the support level at $5.50 and stay there for a few more trading days.
