The post Bitcoin Hovering at the Support, Bear Finding the Scope to Drag the Price Back Below $20,000 appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide
Bitcoin price has surged significantly beyond the important resistance during the early trading hours. While the traders were hopeful of the continued uptrend, the bears again jumped in, dragging the price back towards the lower support at $21,400.
Will the BTC price break below these levels to validate the fakeout? What can be expected from the asset during the upcoming weekend?
Indicators | Value (STF / HTF) | Action (STF / HTF) |
Relative Strength Index(RSI) | 50.26 / 46.19 | Neutral / Neutral |
MACD | 148.1 / -1304 | Buy / Sell |
Average Directional Index(ADX) | 33.69 / 29.96 | Sell / Buy |
Ultimate Oscillator | 44.26 / 59.92 | Sell / Buy |
Bull-Bear Power | -338.69 / 2549.45 | Sell / Buy |
Pivot Levels | Short-Term | Long-Term |
Moving Average (MA)-50 | $20,948.9 | $25,007.7 |
Moving Average (MA)-50 | $19,856.4 | $36,872.4 |
Resistance | $22,891 | $22,500 |
Support | $21,105 | $19,203 |
Bitcoin (BTC) price in the short-term is somewhat bullish but in the higher time frame, the asset is primed to drop below the local support.