Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Ranging

Resistance levels: $6,800, $7,000, $7,200

Support levels: $6,500, $6,300, $6,100

The Bitcoin price had three failed attempts at the $6,800 price levels. Today, the cryptocurrency is ranging above the $6,500 price level. If the price dips below the current level, the $6,400 support could be used to initiate long trades. The MACD line and the signal line are at par with the zero line which indicates a neutral signal. The price of Bitcoin is neither above nor below the 12-day EMA and 26-day EMA which indicates that price is in range bound  zone. The BTC price is expected to be in a range bound movement.

BTCUSD Short-term Trend: Ranging

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

On the 4-hour chart, the BTC price is range bound and the moving averages are horizontally flat. The Relative Strength Index period 14 is level 52 which indicates that the price is in the range bound trend zone.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.