2018-10-4 08:30 |
Resistance Levels: $7,000, $7,200, $7,400
Support levels: $6,400, $6,200, $6,000
Yesterday October 3, the BTC price was in a bearish trend. The bears took price to the low of $ 6,448.29 and succumbed to the bulls. It is expected that traders ought to have initiated long trades at the $6,400 price level. By the time price reaches the high of $6,700, they would have made partial profits.
The bulls are expected to reach the $6,700 price level and break through the resistance. The BTC price will reach the high of $7,400 if it broke the $6,700 price level. Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that a bullish trend is ongoing. The Relative Strength Index period 14 is level 55 which indicates that price is in the sideways trend zone.
BTC/USD Short-term Trend: BullishOn the 1-hour chart, the BTC price is in a bullish trend. The price is Bitcoin is now above the $6,500 price level. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price is rising.
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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