BTC/USD Long-term Trend: Ranging
Resistance $10,500, $11,000, $11,500
Support levels: $10,000, $9,500, $9,000
The BTC/USD pair had been trading in the bearish trend zone after facing resistance at the $13,000 overhead resistance level. On July 10, the BTC price reached a high of $13,000 but was resisted. The bears broke the 12-day EMA and the 26-day EMA as the price fell to the bearish trend zone. In the previous resistances, the price fell within the bullish trend zone. On the upside, if the bulls break above the EMAs, the cryptos price will rise to retest the $13,000 resistance level.
On the other hand, if the bulls fail to break above the EMAs. the crypto's price will commence a range bound move below the EMAs,Meanwhile, the MACD line, and the signal line are above the zero line which indicates a buy 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