Bitcoin (BTC) Price Analysis – September 13

Azeez Mustapha
  • The BTC price reached the high of $6,450 but was overcome and repelled.
  • The bulls have to come back again to test the resistance level with more buyers to push the price above the $6,400 price level.

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Bullish

Resistance levels: $6,500, $6,700, $6,900

Support levels: $6,200, $6,000, $5,800

The price of Bitcoin was in a bullish trend yesterday. The cryptocurrency is currently fluctuating between the levels of $$6,200 and $6,400. Today, the BTC price reached the high of $6,450 but was overcome and repelled. Traders should exit their long trades and take in their partial profits.

Presently, the price of Bitcoin will likely fluctuate around the $6,400 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. The price of Bitcoin is below the 12-day EMA and 26-day EMA which indicates that the bearish trend is ongoing.

BTCUSD Short-term Trend:  Bullish    

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

On the 4-hour chart, the BTC price is in a bullish trend. The BTC price is below the 12-day EMA and 26-day EMA which indicates that the bullish trend is ongoing. Meanwhile, the Relative Strength Index period 14 is level 55 which indicates that the price is in a sideways trend zone.

 

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