The coin bearish outlook has been established after breaking a stiff resistance level, the market is going south-side to the next resistance level, and will likely do down further.
Supply levels: $95, $114, $139
Demand levels: $76, $55, $32
BTCUSD Medium-term Trend: Bearish
The Medium-term Trend of the coin is on the south-side drive. This notion was instituted after the breaking of the price barrier of $114. The market might be heading to the next resistance level of $95 or further below.
From the daily chart X-ray, the price has been able to go below the 14 Exponential Moving Average, and the price is moving down to the 50 Exponential Moving Average, also the signal lines and Histogram bars of the MACD are about crossing for a bearish call.
BTCUSD Short-term Trend: Bearish
The market is building up momentum in the bearish drive after breaking a key price resistance level. The coin is thus on the go for the next barrier level.
The 4-hour chart shows that the price is below the 14 and 50 Exponential Moving Averages, while the MACD signal lines and Histogram bars are already crossed for a bearish trend.
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