The crypto seems to have adjusted for a bullish market indication and looks ready to smash a major resistance level. This bullish outlook might even set the market to a new higher high target.
Supply levels: $9,500, $11,400, $13,900
Demand levels: $7,600, $5,500, $3,200
BTCUSD Medium-term Trend: Bullish
BTCUSD is a bullish trend the price was able to confirm a break out of the price barrier level of $11,400 and looks good in the up drive towards the price resistance level of $13,900. And this level has been tested earlier on, so a break from it will push the price to a higher high level, while a rejection of it will mean a trend reversal.
From the daily chart X-ray, it is obvious that the price is above the 14 and 50 Exponential Moving Averages that are already in a bullish trend, while the MACD Indicator is showing low market volatility.
BTCUSD Short-term Trend: Bullish
The short-term trend of the pair is indicating a bullish trend; the price had a bullish break out from a resistance area and is targeting the next major barrier level.
The 4-hour chart is showing that the 14 and 50 Exponential Moving Averages have re-crossed for a bullish market trend, and the MACD Indicator is also on the bullish side.
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