The-United-States-Has-Seized-Almost-200k-BTC-Until-Today

BTC/USD Medium-term Trend: Bearish

Resistance Levels: $6,800, $6,900, $7,000
Support levels: $6,500, $6,300, $6,100

Yesterday, November 7, the BTC price was in a bullish trend. The crypto's price reached the high of $ 6,606.42 in a bullish trend. However, the bears resisted price at the resistance of $6,606.72 and the crypto's price fell to a range bound movement. The digital currency is now fluctuating above the $6,500 price level.

The crypto's price is likely to revisit the previous lows because the price of Bitcoin is in the bearish trend zone. Traders are to exit their long trades as the price is in a range bound movement. Meanwhile, the BTC price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are above the zero line which indicates a buy signal.

BTC/USD Short-term Trend: Bearish

On the 1-hour chart, the BTC price is in a bearish trend. The crypto's price has broken the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. The MACD line and the signal line are above the zero line which indicates a buy signal. Price is likely to fall to its previous low $6,300 and $6,200.

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

1 + twenty =