The crypto is still maintaining its bearish resilience, after closing below a price resistance level and looks set to go down to the next barrier level or even lower.
Supply levels: $9,500, $11,400, $13,900
Demand levels: $7,600, $5,500, $3,200
BTCUSD Medium-term Trend: Ranging
BTCUSD Medium-term trend has continued to range within the support and resistance area of $11,400 and $9,500 if the price breaks out of the price resistance level of $9,500 the trend will be confirmed the bearish trend, and the price goes lower to the price resistance levels of $7,600 or $5,500.
From the daily X-ray of the chart shows that the price has gone below the 14 Exponential Moving Average and the price is heading to the 50 Exponential Moving Average, while the MACD Indicator signal lines and the Histogram bars are crossed for a bearish indication.
BTCUSD Short-term Trend: Ranging
BTCUSD Short-term trend is ranging and is sitting on a resistance level, the price has broken out of this barrier level before and pullback and it may likely break this level top head down to the next resistance level.
From the 4-hour chart, the 14 and 50 Exponential Moving Averages are twisted indicating a ranging market, while the MACD Indicator is indicating a bearish trend.
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