The coin has been operating below a price resistance level, all possible efforts to move them away from the price barrier area has been aborted, hence a waiting attitude will be required before executing trades on the crypto.
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 been in a ranging form, the price could not go above the price barrier level of $11,400, the crypto has made conscious efforts to break out of this area but to no avail, thereby keeping traders abbey. If the price breaks out of this area the market will target a $13,900 price level, but a continuous rejection might push the coin down to a $9,500 price resistance target.
From the daily chart, the price is sitting above the 14 Exponential Moving Average, while the MACD Indicator signal lines and Histogram bars are signifying a ranging market trend.
BTCUSD Short-term Trend: Ranging
The Short-term trend is on a ranging mode, the price is below a price barrier level and may likely go down to the next resistance level, or maintain the same price area until it breaks out from there.
The MACD signal lines and Histogram bars are lying flat, and the 14 and 50 Exponential Moving Averages are crossed for a bearish trend, but the price is in-between the EMA’s signaling a weak trend.
Please note: Dapplife.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.