Bitcoin Chart By Trading View
The BTCUSD pair had been in the bullish trend zone in the last week. In the past week, the BTC price also retraced from the high of $3,800 to the low of $3,667 as at the time of writing. The retraced crypto’s price found support at the 12-day EMA and the 26-day EMA. Incidentally, the crypto’s price had been fluctuating above the $3,600 price level.
On the upside, if the bulls defend the $3,600 support level and the price is sustained above the EMAs, the crypto’s price is likely to rise. We expect he price to break the resistance at $3,800 and reach the $4,000 price level. Meanwhile, the stochastic band is at the overbought region but below the 80% range which indicates that the crypto is in a bearish momentum and a sell signal.
Bitcoin Chart By Trading View
On the 4-hour chart, the price of Bitcoin is in a sideways trend zone after the price rally. The crypto’s price has retraced and fallen to the support of the 12-day EMA and the 26-day EMA. The EMAs are neither trending northward nor southward but are trending horizontally indicating that price is in a sideways trend.
Similarly, the crypto’s price is neither below nor above the EMAs indicating that price is in a sideways trend. The stochastic indicator is out of the overbought region but above the 20% range which indicates that the price is in a bullish momentum and a buy signal.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
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