BTC/USD
Medium-term Trend: Bearish
Resistance levels: $7,700,
$7,800, $7,900
Support levels: $7,500, $7,400, $7,300
Support levels: $7,500, $7,400, $7,300
Yesterday, August 1, the
Bitcoin price was in a Bearish trend. The bears took price to the low of
$7,480.76. Presently Bitcoin price is making a bullish movement from its low.
The BTC price is likely be in a sideways trend. However, the MACD line and the
signal line are below the zero line which indicates a sell signal.
Also, the price of Bitcoin is
below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is
ongoing. The relative strength index period 14 is level 38 which indicates that
the market is oversold suggesting bulls to take control of the market.
BTC/USD Short-term Trend: Bullish
On the 1-hour chart, the
BTC price is in the support level of the market. The BTC price is making a
bullish movement. The MACD line and the signal line are below the zero line
which indicates a sell signal. Nevertheless, the price of Bitcoin is above the
12-day EMA and the 26-day EMA which indicate that a bullish trend is ongoing.
The views and opinions
expressed here do not reflect that of BitcoinExchangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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