Bitcoin chart for trading view
Bitcoin Price Medium-term trend: Bearish
Resistance levels: $ 7,000, $ 7,100, $ 7,200
Levels of support: $ 6,800, $ 6,700, $ 6,600
The price of Bitcoin was down compared to last week after its failure to break the resistance level at $ 8,400. Today, if the price of BTC breaks the price level of $ 7,048.63, the price of Bitcoin will probably find support for $ 6,500 or $ 6,000.
If bears resist that price level, the price of BTC will begin a movement related to the interval. However, the MACD line and the signal line are above the zero line indicating a purchase signal. But Bitcoin price bars are under the 12-day EMA and the 26-day EMA indicating the bearish trend is underway.
Short-term trend BTCUSD: Bearish
Bitcoin chart of Trading View
In the 4-hour chart, the price of Bitcoin is making a series of lower highs and lower lows. On 4 August, the price of BTC was on a range range movement after the downtrend and the price is likely to fall according to moving averages. The Relative Strength Index Period 14 is level 32 which indicates that the market is oversold which suggests the bulls take control of the market.
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