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.
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