• On the downside, if the bearish trend continues, the BTC price  may fall to the low of either $8,000 or $9,000.
• A bearish trend is ongoing if the trend line is unbroken.

BTC/USD Medium-term Trend: Bullish

• Resistance Levels: $10,500, $11, 000 ¸ $11,400
• Support levels: $9,500, $9,000, $8, 500

Last week, July 10, the price of Bitcoin was being resisted from the $13,000 resistance level. This was not the first time the bulls were being resisted. The BTC market is now on a downward correction.

The bears have broken the 12-day EMA and the 26-day EMA as the price fell to the bearish trend zone. The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that the BTC price may continue its fall. However, a trend line has been drawn to determine the duration of the bearish trend. A bearish trend is ongoing if the trend line is unbroken.

A bearish trend is said to be terminated if price breaks the trend line and another candlestick closes on the opposite of it. On the downside, if the bearish trend continues, the BTC price  may fall to the low of either $8,000 or $9,000. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

BTC/USD Short-term Trend: Bearish

On the 1-hour chart, the BTC price was in a downward trend. The 12-day EMA and the 26-day EMA were trending southward. The BTC price was below the 12-day EMA and the 26-day EMA as the crypto's price was in a downward fall. Meanwhile, the MACD line and the signal line are below the zero line which indicates is a sell signal.

Bitcoin’s price is $56,800.16 BTC/USD exchange rate today. The real-time BTC market cap of $1.06 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $26.7 Billion and live coin value change of BTC 1.40 in the last 24 hours.

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