2018-12-26 10:08 |
Yesterday, December 25, the price of Bitcoin was in a sideways trend. On December 25, the price of Bitcoin broke the 12-day EMA and the 26-day EMA to the low of $3,850.50 and began a range bound movement at that 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.
Nevertheless, as the price ranges at the $3,800 price level, it can go either way to trend. On the downside if price breaks below the $3,800 price level, the crypto’s price will fall to the low of either $3,600 or $3,400 price level. On the upside, price will revisit the previous highs of $4,000 and $4,200.
BTC/USD Short-term Trend: RangingOn the 1-hour chart, the price of Bitcoin was in a sideways trend. The crypto’s price is now ranging at the $3,800 price level . A bullish candlestick has broken the 12-day EMA and the 26-EMA to the upside and back to the downside.
The crypto's price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone. The Stochastic is out of the oversold region and it is below the 80% range which indicates that the BTC is in a bearish momentum and a sell 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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