Bitcoin (BTC) Vs Bitcoin Cash (BCH): World's Leading Cryptocurrencies Matched Up

BTC/USD Medium-term Trend: Ranging

Resistance levels: $8,200, $8,300, $8,400
Support levels: $8,000, $7,900, $7,800

Last week, Bitcoin price reached the high of $8,490.84 but retraced to the low of $7,824.38. Later the BTC price made another bullish movement to the high of $8,176. Today, the cryptocurrency is in a sideways trend trading above the $8,000 price level. The buyers and sellers seem to have no control over the price.

Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of Bitcoin is neither below nor above the  12-day EMA and the 26-day EMA which indicates that Bitcoin price is in a sideways trend. The relative strength index period 14 is level 50 which indicates that price is in the sideways trend zone.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the Bitcoin price is in a sideways trend. The MACD line and the signal line are at par with the zero line which indicates a neutral signal. Nevertheless, the price of Bitcoin is neither below nor above the 12-day EMA and the 26-day EMA which indicates that the Bitcoin price is in a sideways trend.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[FREE] Get Our Best Crypto Trading, Mining & Investing Hacks:

*Action Required* Enter Your Email To Get Insight For Trending Coin News & Reviews

I will never give away, trade or sell your email address. You can unsubscribe at any time.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

fourteen − 13 =