BTC/USD
Long-term Trend: Bearish
Resistance Levels: $7,000,
$7,200, $7,400
Support levels: $6,400, $6,200, $6,000
Support levels: $6,400, $6,200, $6,000
The overall trend for the
price of Bitcoin in the month of September is a bearish trend. Price of Bitcoin
has a balance of $7,036.25 at the beginning of September 2018. As at the time
of writing, the capital has gone down to $6,490.75. In other words, the digital
currency lost 7.66% of its capital.
On September 5, the bulls were overcome at
the $7,400 price level. The digital currency fell to the low of $ 6,169.30.
Since then the bulls have not been able to recover their losses. For the bulls
to be in equilibrium with the bears they have to break the levels $6, 500,
$6,700 and $7,400 price levels.
Nevertheless, the MACD line and the signal line
are below the zero line which indicates a sell signal. Similarly, the price of
Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that the
bearish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is
level 46 which indicates that price is in the range bound zone.
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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