2019-2-19 09:07 |
The BTC price has risen and closed to the $4,000 price level. Technically, the upward price movement may have been interrupted as the price is range bound. BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,700, $3,600, $3, 500
Yesterday, February 18, the BTC price was in a bullish trend. The BTC price was making a series of higher highs and higher lows. Yesterday the 12-day EMA and the 26-day EMA were trending northward. A trend line is drawn showing the support levels of price where traders can initiate their long trades.
The bullish trend line is ongoing because the bullish trend line is not broken. The bullish trend is said to be terminated when the trend line is broken and the following candlestick closed on the opposite of it. The price of Bitcoin is trading at $3,969.9 as at the time of writing. The crypto is expected at the $4,000 and $4,200 price levels. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price likely to rise.
BTC/USD Short-term Trend: BullishOn the 1-hour chart, the BTC price is in the bullish trend zone. The crypto’s price is in a smooth uptrend. The 12-day EMA and the 26-day EMA were trending northward. The bullish trend is said to be terminated because the trend line is broken and the following candlestick closed on the opposite of it.
Yesterday, the bulls broke the resistance level of $3,800. The BTC price is expected to above the $4,000 price level. Meanwhile, the BTC price is above the EMAs which indicate that price is in the bullish trend zone. 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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