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BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,800, $6,900, $7,000
Support levels: $4,000, $3,900, $3,800

Yesterday, November 29, the price of Bitcoin was in a sideways trend. On November 27, the crypto's price was in a bullish trend. The BTC price rose from its low of $3,700 to $4,200 price level. Today, the digital currency is in a sideways trend .

Price is fluctuating above the $4,200 price level. Meanwhile, the price of Bitcoin is above the 12-day EMA and the 26-day EMA indicating that price is likely to rise. Also, the MACD line and the signal line are above the zero line which indicates a buy signal. The digital currency is expected to reach the highs of $4,500 and $5,000. On the downside, if price breaks the $4,000 price level, the crypto will find support at the previous low of $3,700.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Bitcoin is in a sideways trend. The crypto's price is ranging above the $4,200 price level. Meanwhile, the price of Bitcoin is below the 12-day EMA and 26-day EMA which indicates that price is likely to fall. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

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

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