2018-11-29 07:24 |
Resistance Levels: $6,800, $6,900, $7,000
Support levels: $4,000, $3,900, $3,800
Yesterday, November 28, the price of Bitcoin was in a bullish trend. The price of Bitcoin is making a series of higher highs and higher lows. The crypto’s price is above the 12-day EMA and 26-day EMA which indicates that the price is rising. Price is expected at the $4,500 price level but may face resistance at that level.
If the digital currency face resistance at the $4,500 price level, traders should exit their long trades. Meanwhile, the crypto's price is above the 12-day EMA and the 26-day EMA indicating that price is in the bullish trend zone. Also, the MACD line and the signal line are above the zero line which indicates a buy signal.
BTC/USD Short-term Trend: BullishOn the 1-hour chart, the price of Bitcoin is in a bullish trend. Price of Bitcoin is in a smooth uptrend showing the support levels of price where traders initiate long trades. An uptrend is said to be ongoing when price retraces from the recent high and commences a bullish movement after testing the trend line. However, if price retraces and breaks the trend line and the following candlestick closes on the opposite of it; the current line is said to be terminated. The bullish trend is temporarily terminated.
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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