Bitcoin (BTC) Has ALL Of These Advantages Of Every Other Altcoin Available

BTC/USD Medium-term Trend: Ranging

Resistance Levels: $6,400, $6,600, $6,800
Support levels: $6,100, $5,900, $5,700

Yesterday, September 13, the price of Bitcoin was in a bullish trend. The BTC price reached the high of $6,520.51 and was repelled. The BTC price was repelled because of the selling pressure at the $6400 price level.

The bulls can overcome this level by introducing more buyers to push the price above the $6,400 price level. In addition, in a ranging or trending market we ought to buy low and sell high. As the digital currency was repelled, we ought to take a short trade and a stop loss above the $6,500 price level. We exit the short trade at the support zone.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend. The Relative Strength Index period 14 is level 55 which indicates that price is in a sideways trend zone.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a bullish trend. The MACD signals are all bullish. The price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend. 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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