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  • On the upside, if the crypto’s price has a price breakout, the bulls will break the $4,200 resistance level, and rally above it.
  • On the other hand, if the crypto’s price has a price breakdown, the bears will break below the EMAs and find support at the $3,800 price level.

BTC/USD Medium-term Trend: Bullish

  • Resistance Levels: $6,800, $6,900, $7,000
  • Support levels: $3,900, $3,800, $3, 700

Yesterday, March 28, the price of Bitcoin was in a bullish trend. Yesterday, the BTC price fell to the low at $4,081.50 and commenced a range bound movement above the 12-day EMA and the 26-day EMA. Today, the BTC price is still ranging above the EMAs. In a range bound movement, the crypto’s price will go either way. The crypto’s price is ranging above the $4,000 price level.

On the upside, if the crypto’s price has a price breakout, the bulls will break the $4,200 resistance level, and rally above it. On the other hand, if the crypto’s price has a price breakdown, the bears will break below the EMAs and find support at the $3,800 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the BTC price is in a bullish trend. The crypto’s price is trending above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. Each time the bulls were resisted at the $4,000 or $4,100 resistance levels, the crypto’s price falls to the support of the EMAs.

The bulls will then resume their bullish movement. The BTC price is ranging below the $4,100 price level. Today, the crypto’s price is above the EMAs indicating that price is likely to rise. The MACD line and the signal line are above the zero line which indicates a buy signal.

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

(Excerpt) Read more Here | 2019-03-29 06:34:43

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