BTC/USD
Medium-term Trend: Ranging
Resistance Levels: $6,400,
$6,600, $6,800
Support levels: $6,100, $5,900, $5,700
Support levels: $6,100, $5,900, $5,700
Last week the price of
Bitcoin has been in a sideways trend. The BTC price fluctuates between the
levels of $6,400 and $6,200.The BTC price reached the high of $6,520.51 and was
repelled because of the selling pressure at the $6,400 price level. The price ranges
more at the upper-level of price . Last week it was assumed that the bulls can
overcome the upper level of price by introducing more buyers to push the price
above the $6,400 price level.
Today, the price will
continue its range at the support zone. Meanwhile, the MACD line and the signal
line are above the zero line which indicates a buy signal. The price of Bitcoin
is above the 12-day EMA and the 26-day EMA which indicates that price is in a
bullish trend. The Relative Strength Index period 14 is level 55 which
indicates that price is in a sideways trend zone.
BTC/USD Short-term Trend: Ranging
On the 1-hour chart, the
BTC price is in a sideways trend. The MACD signals are all bullish. The price
of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that
price is in a bullish trend. The MACD line and the signal line are above the
zero line which indicates a buy signal.
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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