The coin could not break out of a key market level today, thus the price is considering either breaking out this level. The market has been able to test the barrier level and may come back to re-test this same level.
Supply levels: $95, $114, $139
Demand levels: $76, $55, $32
BTCUSD Medium-term Trend: Bearish
BTCUSD Medium-term trend is in a bearish trend the coin was able to test the $95 level and may come back to break out of it. If the price breaks out of this level it will fall to the level of $76 or down to $32.
From the daily chart price is below the 14 Exponential Moving Average, and heading to the 50 Exponential Moving Average, and the MACD Indicator signal lines and Histogram bars have crossed for a bearish indication.
BTCUSD Short-term Trend: Ranging
The Short-term trend of the coin is in a counter movement after testing a key resistance area; the price moved up a little and may dangle within this area, before establishing a trend.
The 4-hour chart is showing that the price is retracing back to the 14 Exponential Moving Average, while the MACD signal lines and Histogram bars are showing weak market momentum.
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