2018-10-24 17:41 |
Resistance Levels: $6,800, $7,000, $7,200
Support levels: $6,400, $6,200, $6,000
Yesterday, October 23, the price of Bitcoin was in a sideways trend. There was no significant price movement as price remains above the $6,500 price level. Also, price fell from $6,571.36 to $6,547.29 and commenced a bullish movement. Today, price is approaching the $6,600 price level. The bulls and the bears have reached an equilibrium price at the $6500 price level the previous day.
The digital currency will continue its range bound movement until price encounter a breakout. There is no trade recommendation as the price is ranging above the $6,500 price level. Meanwhile, 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 price is in a bullish trend zone.
BTC/USD Short-term Trend: BullishOn the 1-hour chart, the BTC price is in a bullish trend zone. Meanwhile, the price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is rising. The MACD line and the signal line are above the zero line which indicates a 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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