Bitcoin (BTC) Daily Price Forecast – January 25

2019-1-25 09:33

BTC/USD Medium-term Trend: Ranging Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,500, $3,400, $3, 300

Yesterday, January 24, the price of Bitcoin was in the bullish trend zone. The BTC price is still within the range-bound levels of $3,500 and $3,800. The BTC price had been within this range in the last three weeks.

Presently, the BTC price is fluctuating above the $3,600 price level because of its inability to break above the $3,670 price level. The bulls will test the resistance level if the initial resistance is broken. Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price was in the bullish trend zone. The 12-day EMA provides a support level for the price of Bitcoin. Also, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise. 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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