2019-1-28 10:34 |
Last week the price of Bitcoin was in the bearish trend zone. The BTC price was fluctuating above the $3,600 price level all through the week. However, on January 26, the crypto reached the $3,750 price level but was resisted as the bears broke the 12-day EMA, the 26-day EMA and the price fell to the low of $3,500.
On the downside, if the bears broke the $3,500 price level, the crypto will further depreciate to the lows of $3,200 and $3,000. Meanwhile, the crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. Also, the MACD line and the signal line are below the zero line which indicates a sell signal.
BTC/USD Short-term Trend: BearishOn the 1-hour chart, the BTC price is in the bearish trend zone. Last week as the price was fluctuating above the $3,600 price level, the crypto’s price was also below and above the 12-day EMA and the 26-day EMA. Today, the crypto’s price is falling and approaching the low of $3,567.
The crypto’s price is likely to revisit the lows of $3,200 and the $3,000 if the bears broke the $3,500 price level. Also, the crypto’s price is below the EMAs which indicate that price is likely to fall. The MACD line and the signal line are below the zero line which indicates a sell 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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