Last week, the price of Bitcoin was in the bearish trend zone. On December 10, the crypto's  price fell to the low of $3,700 after ranging at the $4,100 price level. On December 13, the price fell again to the low of $3,500 price level. Today, the price of Bitcoin is now ranging above the $3,500 price level.

After this range-bound movement, the crypto is likely to fall again because the price is below the 12-day EMA and the 26-day EMA. Also, the BTC price is likely to revisit the December 15 low of $3,200 price level. Meanwhile, the stochastic is approaching the oversold region but above the 20% range which indicates that Bitcoin is in a bullish momentum and a buy signal.

On the 1-hour chart, the price of Bitcoin is in a bearish trend zone. On December 13, the crypto’s price was ranging at the $3,500 price level. A bullish candlestick has tested the 12-day EMA and has broken it. On this time frame, the crypto’s price is in the overbought region of the stochastic indicator but above the 80% range. The price Bitcoin 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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