Bitcoins-Price-Is-Not-The-Most-Important-Measure-For-The-Digital-Asset
  • On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $5,200 price level.
  • On the downside, if price continues its fall, the crypto will fall to a low at $4,800 price level.

BTC/USD Medium-term Trend: Bearish

  • Resistance Levels: $6,800, $6,900, $7,000
  • Support levels: $5,000, $4,900, $4, 800

Yesterday, April 15, the price of Bitcoin was in a bearish trend. Yesterday, the crypto’s price was in a bullish trend trading above the $5,000 price level. The bulls tested the $5,200 price level and were resisted. The price fell and broke below the 12-day EMA and the 26-day EMA. The price fell to a low at $5,033.20 and commenced a bullish movement.

On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $5,200 price level. On the other hand, if the bulls fail to break above the EMA, the crypto’s price will fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The BTC price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. The crypto’s price fell to a low at $5,033.20 and commenced a range bound movement. The crypto’s price is below the EMAs which indicate that price is likely to fall.

On the downside, if the price continues its fall, the crypto will fall to a low at $4,800 price level. The MACD line and the signal line are below the zero line which indicates a sell signal. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend zone.

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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