Bitcoin $BTC Price Outlook
|$BTC Price Change|
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Trend is "sideways" when there is no clear weekly price movement in any direction.
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G20 news reports suggest major government players will collude to impose more regulation on cryptocurrencies. This has never been good news. The usual outcome of such news is lower prices.
Coupled with the dismal news are $BTC confirmed transaction totals, which have been heading south. Blockchain.com data shows the total confirmed transactions for bitcoin have been headed deeply south since mid November 2018. This transaction activity is bearish, as it indicates a decreasing level of demand.
Moving Average Convergence Divergence (MACD)
The MACD on the four hour chart is bearish.
Exponential Moving Averages (EMA)
The short term EMA (four hour chart) is below both the medium and long term EMA, and pointing south. This is a bearish state.
Relative Strength Index (RSI)
The Relative Strength Index on the one hour chart is 33.7. This is a neutral state.
24 Hour Bitcoin $BTC Price Outlook
- the twenty-four hour Bitcoin $BTC price outlook is bearish
- if the price finds acceptance at higher levels the immediate resistance prints at $3927.00
- if the price finds acceptance at lower levels the immediate support prints at $3827.00
Resistance levels: $3927.00 $4066 $4275
Support levels: $3827.00 $3652 $3580
The author holds Bitcoin $BTC at the time of writing.
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