Price Predictions For Bitcoin Ethereum Dogecoin - Crypto Breakdown February 15, 2022

Episode Summary:

In this episode, I analyze the bull and bear scenarios for Bitcoin, Ethereum, and Dogecoin. I call out the resistance and support levels as well the RSI indicators to look at where these coins will be headed next.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Unedited Transcript:

Hey everybody happy Tuesday. My name is Joe Dewitt, and this is the crypto breakdown. Today. I'm going to do a technical analysis on some of our favorite coins, starting off with Bitcoin because Bitcoin looks fabulous today. The Bitcoin daily candlestick is up four and a half percent on the day. And this candlestick is approaching a very crucial resistance level resistance at 44,180.

Now this resistance level has been there for quite some time. I'm approached back in September, 2021, and we actually use it as support. And then in this previous fall a month ago, when it dropped one, Bitcoin dropped down to 36,000, it flipped towards resistance. And now we've been working our way back up towards that 44,000.

Now this daily candlestick is above that resistance level. Now, if the daily candle set can close above that resistance level, that would be a very huge bullish sign for Bitcoin. And I definitely think Bitcoin price is going to start to rally. If this candle state gets a little bit of cell pressure and starts to fall back towards this 41,000 support level.

We might see a bit of consolidation and two, a week of a momentum and up push towards that resistance. So the most important aspect being where this candles candlestick closest today. So definitely keep an eye on what we're looking for is for it to close above 44,110. And if that's the case of Bitcoin rally may be in our near.

Taking a look over at a theorem. Ethereum is also looking great on the daily candlestick is up almost 6% at 5.8% now based on support and resistance levels. Ethereum doesn't look like it is trending as strong as Bitcoin, but it is definitely. On the upswing, we just touched a resistance level on the ninth and the 10th of February.

And we started falling back down towards the support at about 2,600. But today it bulls woke up and decided that they're going to buy some ease and that it's drove prices up back towards our 3,100. So now price is swinging back towards that resistance level at 30 to 50 sorta theorem is looking to do is to get above this 50 day, moving average at $3,130.

And if a theory. On or above that 50 day moving average for about two to three days. We will definitely be in the upswing there and get a bit of buying pressure towards 3,700. Now on the bear stance, if Ethereum does fall below that 50 day, moving average and fails to get above this resistance at 3,200, then price will be consolidating back towards this 2,600 zone potentially falling below.

But we don't have to think about that now until price starts to reflect some of that I'm selling. But for the time being, it looks like we are trending upwards and Eve is close to reclaiming its 4,000 now ending things off with dos coin. Doge coin actually looks surprisingly well here it does look like we established some sort of a floor down at 12 cents.

So doge coin is approaching on the 25 day moving average and accumulating some higher lows, which is very important, considering that there has been lower lows for a few months. Now what that means essentially is just a lower lows means that it's downtrending because it is accumulating lower sell-off and higher lows would just mean the opposite.

It isn't a reversal. So does accumulating an uptrend because of the higher lows. So each time a sell-off approaches, it is actually higher in price than the. Which signifies the uptrend. So this is the first higher, low for dos coin in quite some time here. And as it gets into that 25 day moving average zone, it could absolutely bounce off of that as support up towards that 22 cents.

Now, considering it as an alternate doge coin, what's really going to be important is the movement of Bitcoin and Ethereum and other blue chips. Because as. Move doge coin will follow. So if blue trip is like Ethereum or Bitcoin, start to sell off doge coin and may follow. So that is very important to consider on the alternative.

If Ethereum and Bitcoin continue to trend the way they are building their higher lows, getting above their resistance levels in 50 day, moving average, we should be accumulating some buying pressure and for doge coin, that would be great. Here, if doge coin can get some momentum I'm seeing 22 cents bouncing off this 15.

Support level and this 25 day moving average, plus it's relative strength index, which just indicates if something is overbought or oversold is sitting at 50%. So it definitely has some room to push. And 22 cents is where its resistance is at. So 22 cents could be a target for doge coin and that's all the time we have for today.

Guys. Thank you so much for tonight. You can follow, subscribe to the podcast, which will all be in the description below. Have a great day