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BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,600, $6,700, $6,800
Support levels: $6,300, $6,200, $6,100

Yesterday, June 13, price of Bitcoin is still in a downtrend. There are indications that price of Bitcoin might fall and reach the lows of $6,000 or $6,500. The asset fell to the low of $6,225.04 as at yesterday. Today, price of  Bitcoin is making some bullish movement, and the price has appreciated to the high of $6,406.32. Now from the MACD indicator, the MACD line and the signal line are below the zero line indicating that the price is still falling.

The 12-day EMA and the 26-day EMA are above the price bars of Bitcoin indicating that bearish trend is still ongoing. Meanwhile, the relative index period 14 is level 33 indicates that the market is oversold suggesting bulls to take control of the market.

BTC/USD Short-term Trend: Bearish

On the hourly chart, price of Bitcoin is still in a downtrend. From the chart, the MACD line and the signal line are still below the zero line indicating a sell signal. The 12-day EMA and 26-day EMA are neither above nor below the price bars of the asset indicating a neutral signal. The moving averages are at par with the price bars.

 

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

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