Author Topic: Bitcoin (BTC) Long Term Price Forecast  (Read 266 times)

Offline BitcoinExchangeGuide

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Bitcoin (BTC) Long Term Price Forecast
« on: November 12, 2018, 08:05:35 PM »
BTC/USD Long-term Trend: Ranging

Resistance levels: $7,200, $7,400, $7,600
Support levels: $6,400, $6,200, $6,000

The price of Bitcoin was range bound in the first week of November 2018.  In retrospect, the digital currency was ranging above the $6,400 price level all through the month of October 2018.  The major bearish event is that on October 11, the bears went deep into the $6,200 price level.  While on October 15, the bulls had a price spike that reached the high of $7,600  but price pulled back to the low of $6,500.

That was why we had a price ranging above the $6,400 price level.  On November 7, the price reached a high of $6,565. 66 but was resisted.  The digital currency was in a downward trend after the resistance at $6,600 price level.  The digital currency is likely to fall because price is in the bearish trend zone. 

Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.  The MACD line and the signal line are below the zero line which indicates a sell signal.


The views and opinions expressed here do not reflect that of BitcoinExchangeGuide. com and do not constitute financial advice.  Always do your own research.

Source:  https://bitcoinexchangeguide. com

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Bitcoin (BTC) Long Term Price Forecast
« on: November 12, 2018, 08:05:35 PM »

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