Yesterday, December 12, the price of Bitcoin was in a bullish trend. The bulls took price to the high of $3,594.70 and could not sustain hold above the 12-day EMA and the 26-day EMA. The crypto's price was resisted at the $3,614.40. Presently, the price of Bitcoin fluctuates between the levels of $3400 and $3,600 .

Today, the bears have taken over and the price is breaking the 12-day EMA and the 26-day EMA to the downside. The implication is that the crypto’s price will begin to fall. We have not ruled out the suggestion that if price breaks the $3,400 price level, Bitcoin will resume its downward trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the BTC price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

On the 1-hour chart, the price of Bitcoin is in a bullish trend. The crypto’s price is now in the bullish trend zone. Yesterday, the crypto’s price broke 12-day EMA and the 26-day EMA and reached the high of $3,617.40 but the bulls could not hold on price at that level.

Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Also, the MACD line and the signal line are above the zero line which indicates 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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