Bitcoin Market Report: $BTC Bearish
|$BTC Price Change|
“Government censorship isn’t possible, as bitcoin isn’t routed through a bank or third party and instead arrives into your phone wallet in a peer-to-peer way. ” TIME: Why Bitcoin matters for freedom https://t.co/mWd1UnpuPD
— Erik Voorhees (@ErikVoorhees) December 29, 2018
The Bitcoin quarterly trend is down. The trend has been down since the peak of $19,798.68 on December 17 2017. That’s more than twelve months of mostly bear market. In all fairness there have been several multi day rallies. The end result to date is still a continued downtrend.
[Trend is "down" when the quarterly price movement is predominantly downwards.]
Real Time Market Depth
[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]
Tap / click to zoom:
Normally much shorter term data points would be used for a shorter term analysis like this. Since this is the last Bitcoin $BTC report for the 2018 year, the weekly chart was used to portray the wider perspective.
Moving Average Convergence Divergence (MACD)
The MACD on the one day chart is bullish. The one week MACD is bearish.
Exponential Moving Averages (EMA)
Using the weekly chart for EMA illustrates how the last price of $3730.04 is so much lower than all (3) of the EMA averages: short, medium and long term. The angle of descent is moderately steep.
Relative Strength Index (RSI)
The Relative Strength Index on the one day chart is 46.8. This is a neutral state.
Bitcoin $BTC Price Outlook
- the Bitcoin $BTC price outlook is bearish
- if the price finds acceptance at higher levels the major resistance prints at 4198
- if the price finds acceptance at lower levels the major support prints at 3156
Analysis Duration: six hours
This report is for a short duration of six hours. Analysis is time sensitive.
The author holds Bitcoin $BTC at the time of writing.
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