BTC, DOGE and SHIB Price Analysis for March 6


The last day of the week has proved bearish for the cryptocurrency market as most coins remain in the red zone.

Top Coins from CoinMarketCap

BTC/USD

Bitcoin (BTC) price has remained virtually unchanged since yesterday. It is down just 0.46% in the last 24 hours.

BTC/USD Chart by TradingView

On the daily chart, Bitcoin (BTC) is below the crucial level of $40,000. As long as bulls cannot seize the initiative, bears will continue to control the situation in the market. Selling trading volume is decreasing, meaning if the daily candle stays above $39,000, the $40,000 break could happen next week.

Bitcoin is trading at $38,959 at the time of writing.

DOGE/USD

DOGE follows Bitcoin (BTC) because the price has not changed since yesterday either.

DOGE/USD Chart by TradingView

Despite the relatively neutral mood, the price is slowly approaching the USD 0.1204 support level on the daily time frame. Currently, one must pay close attention to where the daily candle closes. If bears manage to keep up the pressure, breaking the level could be a precondition for a sharp drop to the USD 0.11 zone soon.

DOGE is trading at $0.1234 at the time of writing.

SHIB/USD

SHIB is the sole winner of the list today as the meme coin is up 0.35%.

SHIB/USD Chart by Trading View

SHIB is trading similarly to DOGE as it is also near the support level at $0.00002310. However, the volume is decreasing, meaning bears are getting weaker, confirming the power of the buyers.

All in all, if bulls can hold the price above the support, there is a chance of some slight growth towards the middle of the channel ($0.000026).

SHIB is trading at $0.00002404 at the time of writing.

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