BTC/USD Long-term Trend: Bullish Resistance levels: $7,200, $7,400, $7,600 Support levels: $3,800, $3,700, $3,600

The price of Bitcoin is now in a bullish trend after a long bearish trend. The cryptocurrency had been bearish from December 1st to December 14th, 2018. The current bullish trend commenced on December 15, on most of the cryptos. On December 15, the crypto's price broke the 12-day EMA and the 26-day EMA to the upside. These price action can be found at the lower time frame. On the upside, the BTC price is expected to reach the highs of $5,000 and $5,500 but will face resistance at the $4,000 price level.

On the downside, if the bears break the $3,300 price level, the crypto will resume its downward trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Meanwhile, the price of Bitcoin is likely to fall as the price is below the 12-day EMA and the 26-day EMA.

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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