Resistance Levels: $6,800, $7,000, $7,200
Support levels: $6,400, $6,200, $6,000

Yesterday, October 22, the price of Bitcoin was in a bearish trend. On the 4-hour chart, the crypto’s price had been sustained above the $6,500 price level. Since October 15, the crypto’s price had been fluctuating above the $6,500 price level. Price is now in the bearish trend zone. However, if the bears break the $6,500 price level, the price of Bitcoin will revisit the lows of $6,200 and $6,000.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

On the 1-hour chart, the BTC price is in a bearish trend zone. While is in the bearish zone the bulls and the bears made insignificant price movement. On October 22, the bulls reached the high of $6,627.90 but fell to the low of $6,554.90. Later the crypto’s price rose to the high of $6,578.90. Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

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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