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BTC, DOGE, and SHIBA Price Analysis for October 6

Price Predictions
Wed, 10/06/2021 - 18:55
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Denys Serhiichuk
How high are the chances of Bitcoin sustaining its gains and pushing altcoins higher?
BTC, DOGE, and SHIBA Price Analysis for October 6
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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Bulls remain in control in the cryptocurrency market. However, not all major coins are in the green. 

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Buyers remained active yesterday, and the Bitcoin (BTC) price continued to rise. During the day, the pair broke through the psychological level of $50,000, and a new bullish impulse pushed the BTC price up to $52,000 at the end of the day.

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

A new October high was recorded at night near the level of $51,915. 

Related
BTC, ETH and XRP Price Analysis for October 4

Despite the fact that the buying volume has decreased this morning, the price has held above the $50,000 barrier and may continue rising towards the resistance of $58,000.

Bitcoin is trading at $54,922 at press time.

DOGE/USD

DOGE is the only loser from the list, with the coin's price shedding 1.68%.

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

Despite today's drop, DOGE is looking more bullish than bearish. The altcoin has bounced back the support at $0.1940 and fixed above it. The trading volume is also high which means that bulls are ready to maintain the momentum. 

Related
BTC, ETH and XRP Price Analysis for October 2

In this case, the test of the resistance at $0.3495, where bears may seize the initiative, is the most likely scenario. 

DOGE is trading at $0.2561 at press time.

SHIB/USD

SHIB is the biggest gainer today, with its price rocketing by around 25% since yesterday.

SHIB/USD chart by Trading View
SHIB/USD chart by Trading View

SHIB has seen three days of growth, and there is a high chance of seeing a short-term correction to the high of the previous day around 2010 satoshi. If bulls fail to hold this level, the correction may continue to the zone of 150 satoshis.

SHIB is trading at 2,205 satoshis 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.