BTC/USD Medium-term Trend: Bearish
Resistance Levels: $6,650, $6,700, $6,750
Support levels: $6,550, $6,500, $6,450
Yesterday, June 14, price of Bitcoin found its low at $6,225.04 and commenced a bullish movement northward. It is likely the bearish pressure must have ended and the bulls taking control of the market. Price of Bitcoin rose to the high of $6,642.98 and was resisted by the bears. Meanwhile, the MACD line and the signal line are below the zero line indicating a sell signal.
In the same vein, the 12-day EMA and the 26-day EMA are neither above nor below the price of the asset which indicates a neutral signal. Nevertheless, the relative strength index period 14 is level 44 which indicates that price is in the range bound zone. Price of Bitcoin is no longer on a downward trend but now in a sideways trend.
BTC/USD Short-term Trend: Bullish
On the hourly chart, price of Bitcoin is in a bullish trend. From the chart, the MACD line and the signal line are above the zero line indicating a bullish signal. The price of the asset is above the 12-day EMA and 26-day EMA indicating that the bullish trend is ongoing.
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