• On June 27, the bulls were resisted and the BTC market was in a downward correction to the support level of the 12-day EMA or to a low at $11,198.
• On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to retest the $12,000 resistance level.

BTC/USD Medium-term Trend: Bullish

• Resistance Levels: $12,000, $12, 200 ¸ $12,400
• Support levels: $11,250, $11,000, $10, 750

Last week, July 1, the BTC price was on a downward correction to the support level of the 26-day EMA. On June 26, the BTC price was in a bullish trend as the crypto reached a high of $14,000. On June 27, the bulls were resisted and the BTC market was in a downward correction to the support level of the 12-day EMA or to a low at $11,198.

At the support level of the 26-day EMA, the bulls pulled above the 12-day EMA to continue its bullish movement. Today, the coin is trading above the 12-day EMA and the 26-day EMA which indicates that price is likely to rise.

On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to retest the $12,000 resistance level. From the Fibonacci tool, the coin had been trading in the downtrend zone 0.50 Fib. retracement level. On the upside, if the bulls break above the 0.382 Fib. line, the crypto will be in the continuation zone of the Fib. retracement level.
Meanwhile, 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 12-day EMA and the 26-day EMA are sloping downward. On 3rd July, the buills  tested the $12,000 price level and were resisted. The bears pulled to the support of the $11,750 and later down to a low at the $10,750 price level on July 5. On July 6, the bulls pulled above the EMAs to reach the $11,600 resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

Bitcoin’s price is $43,999.42 BTC/USD exchange rate today. The real-time BTC market cap of $819.31 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $16.38 Billion and live coin value change of BTC -7.44 in the last 24 hours.

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