Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Stellar (XLM), Tron (TRX): Price Update, Predictions, News Roundup

BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,800, $7,000, $7,200
Support levels: $6,000, $5,800, $5,600

Yesterday, October 11, the price of Bitcoin was in a bearish trend. The bears broke the $6,500 price level and Bitcoin fell to the low of $6,282.98. Price has fallen to the Lower level of price range. Today, the digital currency is now ranging above the $6,200 price level. The reason for the range bound movement was that the bulls and the bears are undecided about where price will go.

However, if price breaks the $6,200 price level the critical support level will be under threat. Price may likely break the $6,000 price level which may fall to the next previous low of $5,900. On the other hand, if the bulls take control, price will reach the high of $6,500.
Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is in the bearish trend.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a sideways trend. The digital currency is ranging above the $6,200 price level. The price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is falling.

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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