Bitcoin (BTC) Market Cap hits 55% Dominance

BTC/USD Medium-term Trend: Bullish

Resistance Levels: $6,800, $6,850, $6,900
Support levels: $6,700, $6,650, $6,600

Yesterday, June 19, the price of Bitcoin was in a bullish trend.  The MACD indicator gave a neutral signal as the price of the asset was neither above nor below the moving averages. Yesterday, the market closed at a price of $ 6,692.43. Today, the asset is in a bullish trend. The exponential moving averages are trending northward.

Meanwhile, the MACD line and the signal line are above the zero line indicating a buy signal. Also, the price of the asset is above the 12-day EMA and the 26-day EMA indicating that bullish trend is ongoing. Nevertheless, the relative strength index period 14 is level 58 indicates that price of the asset is in the range bound zone. Traders may not be able to trade and make money in a ranging market. Traders make money when  price of  an asset goes up and comes down.

BTC/USD Short-term Trend: Bullish

In the 1-hour chart, the price of Bitcoin is in a bullish trend. At a price of $6,635.89, the asset appreciated to the high of $6,726.22 and then resumed a range bound movement. Meanwhile, the MACD line and the signal line are also above the zero line indicating a buy signal.  Also, the price of the asset is above the 12-day EMA and 26-day EMA indicating that the bullish trend is ongoing.

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

two × four =