The Bulls Are Back In Town

It seems that the bulls are back!

The majority of the crypto market is experiencing a nice bounce today, and the market cap of the entire segment is back above that $600,000,000 mark we recently dipped below.

Let's have a quick look at Bitcoin and Litecoin to see what's happening...

Bitcoin

Bitcoin has seen some signs of strength today, with prices heading back as high as $14200 +/-.

But, the bear flag that was breached just yesterday is now acting as resistance, as you can see from the red diagonal on my chart here:

We are also seeing good signs from the indicators, with the MA crossing, a strong RSI reading and a bullish MACD to boot!

But, the downtrend line still hasn't been broken, (yet?) and I still expect some more correction in BTC/USD. Although this post by Hive account@toofasteddie does a very nice job of convincing me otherwise.

I'll be keeping a very close eye on it! If it goes back above $15000ish, I expect that another rally (perhaps even to a new all time high), could happen.

You might also like to check out this post from Hive account@jrcornel: https://steemit.com/bitcoin/@jrcornel/bitcoin-s-price-is-at-critical-crossroads

Litecoin

Litecoin has seen a nice bounce today, and it now trades back above the .50 Fibonacci retracement level once again.

The 2 downtrend lines are still in play, but the MACD and RSI are both giving us a bullish reading currently, as we can see here:

The MA cross has also gone bullish, and If the downtrend lines get broken, we could have a new rally on the cards.

Happy New Year!

That's all for now, so I just want to wish everyone a Happy New Year!

I'm going to write a "year in review" style post next, but in case I don't get around to posting it in time; I want to make sure I get the chance to say it now. :-D

Massive thank you to all of you who have followed, upvoted, and commented on my posts!

2017 has been a fantastic year, may 2018 be even better!