2018-12-31 08:27 |
Last week the price of Bitcoin was in the bearish trend zone trading at the $3,700 price level. It was feared that the crypto would further depreciate as it was in the bearish trend zone. But the bulls took control of price and Bitcoin is currently trading above the $3,900 price level.
Today the BTC price is in the bearish trend zone as the crypto’s price is below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. If the bulls break above the $4,000 price level, the crypto will revisit the previous highs of $4,200 and $4,400 price levels. On the other hand, if it was resisted at the $4,000 price level, the crypto will fall below the EMAs and continue its downtrend.
BTC/USD Short-term Trend: BearishOn the 1-hour chart, the price of Bitcoin was in a sideways trend. On December 30, the crypto’s price fell to the low of $3,882.90 and commenced a range bound movement. The crypto’s price is falling and has broken the 12-day EMA, the 26-day EMA and it 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 is in bullish momentum and 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.
origin »Bitcoin (BTC) на Currencies.ru
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