Bitcoin (BTC) rose above the lines of the sliding medium and support level of $ 95,000, but it is kept by the 50-day barrier of SMA.
Bitcoin price long -term forecast: bear
The price of bitcoins is currently lower than the 50-day SMA barrier and above 21-day SMA support. BTC will reach a maximum of $ 102,390 if it breaks above the 50-day SMA. Nevertheless, Bitcoin will be forced to move in the range between the sliding middle line if it gets stuck on a 50-day SMA.
On the other hand, if the bears break below the 21-day SMA, Bitcoin will retreat to its previous range from $ 94,000 and below the lines of the sliding average.
Currently, Bitcoin is trying to break through above the 50-day SMA and resumed his upward trend. The price of bitcoins is 96,736 dollars.
Analysis of Bitcoin prices indicators
According to the Coinidol.com analysis, after Bitcoin struck the sliding average line, it recovered. Before the breakthrough, cryptocurrency was originally caught between the lines of the sliding medium. If the 50-day SMA support is preserved, Bitcoin will rise again. The price rods are above the lines of the sliding medium on the potential, which indicates growth.
Technical indicators
Key supplies: $ 108,000, 109,000 US dollars, 110,000 US dollars
Key demand zones: $ 90,000, 80,000 US dollars, $ 70,000
What is the next step for bitcoins?
Bitcoin continued his ascending trend after entering the rising trend area. Bitcoin will begin to grow again if the SMA 50-day support is contained.
However, if the bulls cannot withstand their bull impulse above the 50-day SMA, Bitcoin will move between the lines of the sliding average.
Refusal of responsibility. This analysis and forecast are the personal opinion of the author. They are not a recommendation to buy or sell cryptocurrency and should not be considered as approval of Coinidol.com. Readers must conduct a study before investing in the funds.
