BTC/USD Long-term Trend: Ranging
Resistance $10,500,
$11,000, $11,500
Support levels: $10,000, $9,500, $9,000
Support levels: $10,000, $9,500, $9,000
The BTC/USD pair had been trading in the
bearish trend zone after facing resistance at the $13,000 overhead resistance
level. On July 10, the BTC price reached a high of $13,000 but was resisted.
The bears broke the 12-day EMA and the 26-day EMA as the price fell to the
bearish trend zone. In the previous resistances, the price fell within the
bullish trend zone. On the upside, if the bulls break above the EMAs, the
crypto’s price will rise to retest the $13,000 resistance level.
On the other
hand, if the bulls fail to break above the EMAs. the crypto's price
will commence a range bound move below the EMAs,Meanwhile, 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
Source: https://bitcoinexchangeguide.com
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