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In this Bitcoin price analysis, if the bulls are able to break above the EMAs, BTCUSD price will rise to retest the $5,200 price level.
Bitcoin Price Analysis
Yesterday, April 15, we saw that Bitcoin price was in a downward trend. Today, BTC price resumed the bullish trend while trading above the $5,000 price level. After testing the $5,200 price level, the bulls were resisted and the price dropped and broke below the 12-day and the 26-day Exponential Moving Averages (EMAs). Bitcoin price declined to a low at $5,033.20 and then resumed an upward movement.
If the bulls are able to break above the said EMAs, the BTC price will rise to retest the price level of $5,200. However, if they are unable to break above the EMA, the price will drop. In the meantime, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line, indicating a sell signal. The crypto’s price is below the 12-day as well as the 26-day EMAs, thus indicating that price is in the...
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