2018-8-3 11:49 |
Resistance levels: $7,400, $7,500, $7,600
Support levels: $7,500, $7,400, $7,300
Yesterday, August 2nd, the Bitcoin price was in a Bearish trend. The BTC price made some bullish movement to the high of $7,662.46 but the price fell to the low $7,348. The BTC price broke the $7,400 support level and pulled back. However, it is likely the cryptocurrency will fall to the previous low of $7,200.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. The relative strength index period 14 is level 28 which indicates that the market is oversold suggesting bulls to take control of the market.
BTC/USD Short-term Trend: BearishOn the 1-hour chart, the BTC price is now in a smooth downward trend. The BTC price is making a bullish movement. The MACD line and the signal line are below the zero line which indicates a sell signal. Nevertheless, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicate that a bearish trend is ongoing.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
origin »Bitcoin (BTC) на Currencies.ru
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