2019-2-18 06:52 |
Last week the BTC price had been in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally indicating the sideways trend. The crypto's price had been ranging above the $3,600 price level. On February 17, the crypto's price was resisted at the $3,800 price level. The $3,800 was the support level for the bulls on December 31, 2018.
This level was broken by the bears on January 10, 2019, which is now a resistance level for the bulls. It was assumed that if the crypto's price is sustained above the EMAs and the bulls break the $3,800 resistance level, the crypto will reach the highs of $4,000 and $4,200. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price likely to rise.
BTC/USD Short-term Trend: BullishOn the 1-hour chart, the BTC price is in the bullish trend zone. The price of Bitcoin is fluctuating below and above the 12-day EMA and the 26-day EMA. On February 17, the bears broke the EMAs as the price fell to the low of $3,680 to commence a bullish movement.
Last week it was also assumed that if the bears broke the $3,600 price level, the crypto will resume its downward trend. It was assumed that price will revisit the $3,400 price level. Meanwhile, the BTC price is above the EMAs which indicate that price is in the bullish trend zone. 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.
Similar to Notcoin - Blum - Airdrops In 2024
Bitcoin (BTC) на Currencies.ru
|
