Bitcoin's (BTC) price has remained above the moving average lines but below the $82,500 high.
BTC Price Long-Term Prediction: Ranging Technical indicatorsMajor supply zones: $120,000, $125,000, $130,000
The 21-day SMA is above the 50-day SMA support and sloping upward, indicating an uptrend. The price bars are above the moving average lines, showing that Bitcoin is rising each time it tests the 21-day SMA support.
On the 4-hour chart, the moving average lines are sloping upward, confirming an uptrend. Following its recent high, BTC has slipped above the 21-day SMA support. Bitcoin will fall if it loses its 21-day SMA support.
Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.
