2019-1-17 09:08 |
Yesterday, January 16, the price of Bitcoin was in the bearish trend zone. The BTC price fluctuates above the $3,600 price level in the last 24 hours. The BTC price is still below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. The crypto’s price is facing resistance at the 12-day EMA as the bulls are making attempt to breaking the EMAs.
Yesterday, it was assumed that if the bears broke the $3,500 price level, the crypto would found support at the $3,200 price level. Today, the crypto is trading at the $3,679.90 below the 12-day EMA. Meanwhile, the stochastic is out of the overbought region but above the 20% range which indicates that Bitcoin is in a bearish momentum and a sell signal. The MACD line and the signal line are below the zero line which indicates a sell signal.
BTC/USD Short-term Trend: BearishOn the 1-hour chart, the price of Bitcoin is in a bearish trend zone. On January 16, the crypto fell to the $3,637.9 and commenced a bullish movement to break the 12-day EMA and the 26-day EMA. The bulls have broken the 12-day EMA and are attempting to break the 26-day EMA. Meanwhile, the stochastic is out of the oversold region but above the 20% range which indicates that Bitcoin is in bullish momentum and 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.
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