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BTC/USD Medium-term Trend: Bearish
Resistance levels: $6,800,, $7,000, $7,200
Support levels: $6,300, $6,100, $5,900
Price of Bitcoin was in a descending trend on yesterday. As a result of its incapacity to achieve the $7,000 price level the BTC price was struggled. The price of Bitcoin decreased from the high of $6,832.47 and it is accosting the price level at $6,400.
The cryptocurrency is diminishing and if it falls into the former range bound zone, the digital currency will inaugurate its range bound movement as of today. There are suggestions that value may break the lesser level of price range and stretch the critical support district.
Please enter Coingecko Free Api Key to get this plugin works.In the meantime, the MACD line and the indication line are below the zero line which indicates a sell signal. Additionally, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which signposts that a bearish trend is continuing. The Relative Strength Index period 14 is level 32 which shows that the market is overvalued portentous bulls to take domination of the market.
BTC/USD Short-term Trend: Bearish
On the 1-hour chart, the BTC price is in a bearish trend. Today, The BTC value is accosting the former range bound zone of $6,200 -$6,400. The price of Bitcoin is under the 12-day EMA and the 26-day EMA which points out that price is decreasing. There is a sell signal too caused by the MACD line and the signal line are below the zero.
