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Medium-term trend BTC / USD: variable
- Strength levels: $ 6,800, $ 6,900, $ 7,000
- Support levels: $ 3,800, $ 3,700, $ 3, 600
Last week the price of Bitcoin settled in the downtrend, trading at the $ 3,700 level. It was feared that the crypt would further depreciate as it was in the bearish trend zone. But the bulls have taken control of the price and the Bitcoin is currently trading above the price level of $ 3,900.
Today the BTC price is in the bearish trend zone as the price of the crypt is lower than the 12 day EMA and the 26 day EMA indicates that the price is likely to fall. If the bulls exceed the price level of $ 4000, the crypt will revisit the previous highs of $ 4,200 and $ 4,400 price levels. On the other hand, if you are opposed to the price level of $ 4000, the crypt will fall below the EMA and continue its downward trend.
Short-term trend BTC / USD: bearish
On the 1 hour chart, the price of Bitcoin was in a lateral trend. On December 30, the price of the crypt fell to a minimum of $ 3,882.90 and began a movement with a range of action. The price of the crypto is declining and has broken the 12-day EMA, the 26-day EMA and is approaching the bearish trend zone. The stochastic indicator is making a U-turn from the oversold region but above the 20% range. It implies that Bitcoin has a bullish moment and a purchase signal.
The opinions and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your research.
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