BTC/USD
Medium-term Trend: Ranging
Resistance levels: $6,500,
$6,600, $6,700
Support levels: $6,300, $6,200, $6,100
Support levels: $6,300, $6,200, $6,100
Yesterday, August 22, the
price of Bitcoin was in a sideways trend. The BTC price fell while in a
sideways trend. The cryptocurrency fell to its previous range-bound levels of
$6,600 and $ 6,000. Yesterday, the BTC price reached the high of $6,880.72 and
price pullback to the low of $6,303.65. Today, the BTC price is now in range
bound movement.
It is assumed that the
cryptocurrency will cross over the hurdle at the price of $6,600. Meanwhile,
the MACD line and the signal line are above the zero line which indicates a buy
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 48 which indicates that price is in the sideways trend zone.
BTC/USD Short-term Trend: Ranging
On the 1-hour chart, the
BTC price is in a sideways trend. While in a sideways trend, the price of
Bitcoin fell to the low of $6,323.93. After it has fallen, the cryptocurrency
resumed its range-bound movement.
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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