Bitcoin (BTC) Daily Price Forecast – December 19

2018-12-19 08:43

BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,700, $3,600, $3,500

Yesterday, December 18, the price of Bitcoin was in a sideways trend. On December 17, the BTC price was in a bullish trend and it closed at a price of $3,659 after facing resistance at the $3,600 price level. Thereafter the crypto is in a sideways trend fluctuating below and above the $3,600 price level.

Presently, the crypto’s price is fluctuating above the 12-day EMA and the 26-EMA which has the tendency to rise. On the upside,the bulls have broken the resistance at $3,600 and price is approaching the $3,800 price level. On the downside, the crypto’s price will fall if the price falls below the EMAs and the bears breaking the $3,400 price level.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Bitcoin was in a bullish trend. The price is trending above the 12-day EMA and the 26-day EMA which has the tendency to rise. If price breaks the $3,600 price level, Bitcoin will reach the high of $4,000.

On the downside, if price breaks below the $3,400 price level, the crypto will resume its downward trend. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the BTC price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

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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