Bitcoin (BTC) Daily Price Forecast – January 7

2019-1-7 09:34

BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,900, $3,800, $3, 700

Last week the price of Bitcoin was in the bearish trend zone. The BTC price was trading below the $3,900 price level. The crypto’s price fluctuates below and above the $3,900 price level. On January 6, the BTC price broke  the 12-day EMA and the 26-day EMA and it is now in the bullish trend zone. The crypto’s price reached the high of $4,212.66 after breaking the EMAs.

The BTC price also broke above the $3,900 price level. Meanwhile, the stochastic indicator is approaching the overbought region but above the 80% range. This implies that Bitcoin is in a bullish momentum and a buy signal. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Bitcoin is in a bullish trend zone. The bulls broke the 12-day EMA and the 26-day EMA to reach the high of $ 4,212. The BTC price retraced and it is now fluctuating above the $4100 price level. There is a tendency for the crypto to rise because Bitcoin is in the bullish trend zone. The stochastic is out of the overbought region but above 20% range indicating that Bitcoin is in a bullish momentum and 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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Источник: bitcoinexchangeguide.com

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