BTC/USD Medium-term Trend: Ranging
- Resistance Levels: $6,800, $6,900, $7,000
- Support levels: $3,600, $3,500, $3, 400
Yesterday, February 13, the BTC price was in the bearish trend zone. The BTC price had been ranging for some time and at the price above $3,600. Yesterday, the bears broke below the 12-day EMA and the 26-day EMA. However, the bulls recover quickly and brought price above the EMAs. If the crypto’s price had remained in the bearish zone, it would have commenced a downward trend.
Today, the bulls are breaking above the EMAs so the BTC price will remain in the bullish trend. The crypto’s price is expected to test or break 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 likely to rise.
BTC/USD Short-term Trend: Ranging
On the 1-hour chart, the BTC price is in the bearish trend zone. On February 13, the crypto’s price was at the low of $3,653.20 and the bulls broke above the EMAs. The BTC price rose to a high of $3,679.40 but price retraced and rested above the 26-day EMA.
The crypto’s price is expected to rise as the price is in the bullish trend zone. Meanwhile, the BTC price is above the EMAs which indicate that price is in the bullish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
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