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BTC, CAKE and DOGE Price Analysis for September 20

Price Predictions
Mon, 09/20/2021 - 15:12
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Denys Serhiichuk
Are there any altcoins that can rise while Bitcoin (BTC) goes down?
BTC, CAKE and DOGE Price Analysis for September 20
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market has faced a huge drop as all of the altcoins have followed the sharp drop of Bitcoin (BTC).

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has shown the least drop compared to other coins from the list. The decline has accounted for 7.63% over the last day.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) broke the support at $44,436 against the increasing trading volume. One needs to pay close attention to how the daily candle closes. If it closes below the level, the drop may continue tomorrow to the closest area of $41,400 where bulls can try to seize the initiative.

Bitcoin is trading at $43,935 at press time.

DOGE/USD

The fall of DOGE has constituted 10.76% since yesterday.

DOGE/USD chart by Trading View
DOGE/USD chart by Trading View

DOGE made a false breakout of the support at $0.2036 where the growth has started from. If it closes above it, there is a chance to see a local bounceback to the zone of the most liquidity around $0.2438 soon.

DOGE is trading at $0.2114 at press time.

CAKE/USD

CAKE is the top loser from the list as the fall has made up 11%.

CAKE/USD chart by TradingView
CAKE/USD chart by TradingView

Despite the sharp fall, CAKE might face a short-term rise from the current levels as it has almost reached the support.

Related
BTC, DOT and EOS Price Analysis for September 17

Until the breakout happens, sideways trading will be the more likely scenario for the following altcoin. However, if bulls lose the $18.35 level, the fall may continue to $13.50.

CAKE is trading at $19.95 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.