2019-2-4 11:10 |
Last week the price of Bitcoin fell to the low of $3,430.10 while in the bearish trend zone. The BTC price made a bullish movement and broke the 12-day EMA, the 26-day EMA and reached the high of $3,548.80. The BTC price was resisted and it fell back to the $3,400 price level. This had been the scenario the previous week.
The crypto's price is making lower highs and lower lows. Today, the BTC price is below the EMAs and may likely fall. On the downside, if the bears break the $3,400 price level, the chances are that the crypto’s price will revisit the lows of either $3000 or $3,200 . On the upside, the BTC price has not been able to break the EMAs and price sustained above it.
Meanwhile, the BTC price is below the 12-day EMA and the 26-day EMA which indicates that price is in bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
On the 1-hour chart, the BTC price is in the bearish trend zone. Last week, the price of Bitcoin was in a bullish trend but the price was not sustained above the EMAs. The price fell to the $3,400 price level.
On February 3, the bulls made another attempt at the EMAs as the crypto was resisted by the 26-day EMA. The crypto's price is now in a downward fall. Meanwhile, the BTC price is below the EMAs which indicate that price is likely to fall. The MACD line and the signal line are below the zero line which indicates 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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