The coin is facing some form of indecision within a stiff price level area, this price barrier has been broken before, but the market seems to be relenting on leaving this price barrier level.
Supply levels: $9,500, $11,400, $13,900
Demand levels: $7,600, $5,500, $3,200
BTCUSD Medium-term Trend: Ranging
The crypto has been on a ranging mode for a while now. The price keeps hovering with the price resistance area of $11,400. This level has been tested and retested severally, thus a true price break out is expected any time soon.
From the daily chart analysis, the price keeps dangling within the 14 Exponential Moving Average, and the MACD Indicator signal lines and Histogram bars are all signaling strong ranging market situation.
BTCUSD Short-term Trend: Ranging
BTCUSD Short-term trend is a ranging market condition, the price has continued to operate within a price resistance level, the price is demanding for a real price movement to enable it to align with the major trend.
The 4-hour chart indication shows that the price is ranging in-between the 14 and 50 Exponential Moving Averages, and the MACD Indicator signal lines and Histogram bars are displaying weak market volatility.
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