BTC/USD
Medium-term Trend: Bullish
Resistance levels: $7,800,
$7,900, $8,000
Support levels: $7,400, $7,300, $7,200
Support levels: $7,400, $7,300, $7,200
Last week, the price Bitcoin
was in a bullish trend and it reached the high of $7,313.14. Thereafter the
cryptocurrency went into a sideways movement and later fell to the low of
$7,230.93. On Saturday, July 21st, the price of Bitcoin had another bullish movement
that took price to the high of $7,407.54.
However, the MACD line and
the signal line are above the zero line which indicates a buy signal. Also, the
price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates
that the bullish trend is ongoing. The relative strength index period 14 is
level 75 which indicates that the market is overbought suggesting bears to take
control of the market. Price of Bitcoin will reach the high of $10,000 but will
face resistance at the $9,000 price level.
BTC/USD Short-term Trend: Bullish
On the 1-hour chart, the
price of Bitcoin is in a bullish trend. On July 23, the price of Bitcoin fell
to the low $7,363.29. The MACD line and the signal line are above the zero line
which indicates a buy signal. Nevertheless, the price of Bitcoin is above the
exponential moving averages which indicate that Bitcoin price is rising.
The views and opinions
expressed here do not reflect that of BitcoinExchangeGuide.com and do not
constitute financial advice. Always do your own research.
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