• On July 16, the downward trend was corrected at the support of the $9,400 price level.
• On the upside, if the bulls break the EMAs, the coin will resume another bullish trend to retest the $13,000 overhead resistance.

BTC/USD Medium-term Trend: Ranging

• Resistance Levels: $10,000, $10, 200 $10,400
• Support levels: $9,000, $8,800, $8, 600

Last week the BTC/USD pair was trading in the bearish trend zone after the $13,000 overhead resistance. The bears broke the 12-day EMA and the 26-day EMA to reach the bearish trend zone. On July 16, the downward trend was corrected at the support of the $9,400 price level. On July 17, the bulls made an upward move to break above the EMAs but were resisted.

The price fell to the previous low of $9,400. The previous low of $9,400 was well supported as the bulls made another attempt at the 12-day EMA and the 26-day EMA. On the upside, if the bulls break the EMAs, the coin will resume another bullish trend to retest the $13,000 overhead resistance. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

BTC/USD Short-term Trend: Ranging

On the 1-hour chart, the BTC price is in a sideways trend. After the downward trend correction, the BTC market fell to a low of $9,400 price level. On July 27, this previous low was revisited after the resistance at the $10,100 price level.

The price was resisted and it fell to the previous low of $9,400. The coin is now ranging above the $9,400 price level for a possible bullish trend. Meanwhile, the MACD line and the signal line are below the zero line which indicates is a buy signal.

Bitcoin’s price is $50,114.84 BTC/USD exchange rate today. The real-time BTC market cap of $934.31 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $15.41 Billion and live coin value change of BTC 2.82 in the last 24 hours.

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