The crypto could not proceed further from the resistance level that has beclouded it, thus the price has been ranging within this price resistance area, and until the price breaks out of this area the trend cannot be adjudged.
Supply levels: $95, $114, $139
Demand levels: $76, $55, $32
BTCUSD Medium-term Trend: Ranging
BTCUSD Medium-term trend has been on a ranging market condition, the price has made an effort to break out of the resistance level of $114, but had a pullback, and is now itching on breaking it the second time, if it does the price will shoot up to the major resistance area of $139 or further.
The 14 and 50 Exponential Moving Averages have continued to maintain a bullish market outlook, while the MACD Indicator is showing a ranging market condition.
BTCUSD Short-term Trend: Bearish
The short-term trend is bearish; the price is going down to the next major price barrier level. And breaking this price barrier level will move the price down to a new lower low level.
The 4-hour chart is showing that the price is still below the 14 and 50 Exponential Moving Averages, and the MACD Indicator signal lines and Histogram bars are showing a weak trend.
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