2019-1-24 10:03 |
Yesterday, January 23, the price of Bitcoin was in the bearish trend zone. The BTC price has maintained its $3,600 price level in the last 24 hours. The bears broke below the 12-day EMA and the 26-day EMA but the bulls have not been able to break above the EMAs.
The crypto will continue to range as long as the bulls fail to break above the EMAs. Meanwhile, the stochastic is in the overbought region but below the 80% range which indicates that Bitcoin is in a bearish momentum and a sell signal.
BTC/USD Short-term Trend: RangingOn the 1-hour chart, the BTC price was in the bearish trend zone. Yesterday, the bulls reached the high of $3,664 but the bears pulled back price to the $3,640 price level. The BTC price is ranging at the $3,600 price level because the bulls have not been able to break above the EMAs.
Meanwhile, the MACD line and signal line are below the zero line which indicates a sell signal. Also, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend 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.
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