Bitcoin Passed $400 with Double Bottom, Litecoin Follows with Triple Bottom

Crytocurrencies bitcoin and litecoin surged - last year around this time, these two virtual currencies also exploded upwards. This year, after steep corrections in both, bitcoin and litecoin are looking bullish again.

Bitcoin (BTCUSD)

Turning Bullish: Note the price is above the cluster of 200-, 100-, and 50-period simple moving average (SMA). These are signs that the market has turned bullish this week. At this point, if there is a pullback, we can expect buyers around 375, and also 360. Here price would be just above the cluster of SMAs, a support/resistance pivot, and a rising speedline from last week. A break below 360 would keep the mode neutral instead of bullish.
Next Target: In the bullish scenario, the upside risk in the short-term is towards a resistance pivot near 450.

Litecoin (LTCUSD)

Consolidation, Triple Bottom: Looking at litecoin, we can see that price was also consolidating since last week. It was flatter, but did form a triple bottom above 3.50 by the start of this week. Then, we saw a breakout followed by a pullback to test this price bottom.
Today’s price action confirmed the triple bottom, as litecoin price surged above the moving averages, and pushed the 4H RSI to 80, showing a shift to bullish bias and momentum.