2018-12-27 09:59 |
Yesterday, December 26, the price of Bitcoin was in a sideways trend. In the last 24 hours, there had been no significant price movement. The crypto’s price was at its low at $3,850.50 and the crypto was fluctuating at that price level. We are still expecting a price breakout as the price continued its range bound movement above the $3,800 price level.
Presently, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. On the downside, if price breaks below the $3,800 price level, the crypto’s price will fall to the lows of either $3,600 or $3,400 price level. On the upside, the crypto will revisit the previous highs of $4,000 and $4,200, if the bulls break above the $3,800 price level.
BTC/USD Short-term Trend: BearishOn the 1-hour chart, the price of Bitcoin was in a bearish trend. The crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. The Stochastic is out of the oversold region and it is above the 20% range which indicates that the BTC 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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