2019-1-5 07:57 |
BTC/USD Long-term Trend: Bearish Resistance levels: $7,200, $7,300, $7,400 Support levels: $3,800, $3,700, $3,600
The BTCUSD pair had been ranging in the last ten days. In the short time frame, Bitcoin was ranging at the $3,900 price level. The crypto’s price also faces resistance at the $4,000 price level. However, the BTC price has an opening balance of $3,862.60 in the month of January . From the weekly chart, the price of Bitcoin is in the bearish trend zone.
In other words, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that Bitcoin is likely to fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.
In addition, the stochastic is in the oversold region but above the 20% range. This indicates that the price of Bitcoin is in a bullish momentum and a buy signal. In the meantime, the blue band of the stochastic is above the red band indicating the reversal of the previous trend.
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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