The crypto is one of the favorite markets for the week, as it is gallantly moving in a clear bullish position, demanding nothing but to smash the major resistance level. A break out of the major price barrier level will automatically mean setting a record new higher high level.
Supply levels: $9,500, $11,400, $13,900
Demand levels: $7,600, $5,500, $3,200
BTCUSD Medium-term Trend: Bullish
BTCUSD bullish outlook looks is unquestionable; the jolly ride is hell-bent on reaching out for the major price resistance level of $13,900. This area was tested earlier on, and a re-test might either lead to a break out for a new higher high target or a trend reversal for a bearish trend.
The 14 and 50 Exponential Moving Averages are succinctly positioned for a bullish call, while the MACD signal lines and Histogram bars are yet to give in for the bullish indication.
BTCUSD Short-term Trend: Bullish
BTCUSD Short-term trend has been in for a bullish trend, after breaking a price barrier area, the bullish call knew no bounds, as the trend is accelerating to the next price resistance area.
From the 4-hour chart, the 14 and 50 Exponential Moving Averages is a gapped for a bullish positioning, and the MACD Indicator also has dashed in for the bullish confirmation.
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