BTC/USD Medium-term Trend: Bullish
Resistance Levels: $7,400, $7,600, $7,800
Support levels: $7,900, $6,800, $6,900
Yesterday, September 3, the price of Bitcoin was in a bullish trend. Yesterday, the price has established itself above the $7,000 price level. Traders were advised to initiate long trades above the $7,000 price level. Then a stop loss order below the critical support level. Today, the price bar of Bitcoin is clearly above the exponential moving averages indicating price is rising.
Also, the price of Bitcoin has been stable for the past two days.Nevertheless, the MACD line and the signal line are above the zero line which indicates a buy signal. The price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend. The Relative Strength Index period 14 is level 62 which indicates that price is the bullish trend zone.
BTC/USD Short-term Trend: Ranging
On the 1-hour chart, the BTC price is in a sideways trend. The MACD line and the signal line are above the zero line which indicates a buy signal. Also, the price of Bitcoin is above the 12-day EMA and the 26-day EMA which indicates that price is in a bullish trend.