Bitcoin (BTC) Price Analysis — March 18

Share On Facebook

BTCUSD Medium-term Trend: Ranging


• Resistance levels: $7,000, $7,200, $7,400
• Support levels: $3,800, $3,600, $3,400

On March 25, the price of Bitcoin had been in the bullish trend zone. The crypto’s price was above the 12-day EMA and the 26-day EMA which indicated that the price was going to rise. The price of Bitcoin rose but the bulls failed to break the $4,000 and $4,200 price levels.

While in the bullish trend zone the crypto’s price was trending at the support of the 12-day EMA. On March 16, the bulls tested the $4,000 resistance level and the price made a downward correction. On the downside, if the bears break below the EMAs, the BTC price will resume its downtrend movement.

On the upside, if the price retraces to the support of the 12-day EMA, the bulls will resume their bullish movement and retest the previous highs. Meanwhile, the stochastic indicator is out of the overbought region but below the 80% range which indicates that the crypto is in a bearish momentum and a sell signal.


BTC/USD Short-term Trend: Bullish

On the 4-hour chart, the price of Bitcoin was in a bullish trend in the previous week. On March 16, after testing the $4,040 resistance level, the crypto’s price fell to the support level of the 12-day EMA. Today, the bulls tested the $4,000 price and the price fell to break the 12-day EMA.

If the price continues its fall, the bears will break the 26-day EMA and find support at the $3,800 price level. Meanwhile, the stochastic band is out of the overbought region but below the 60% range which indicates that the crypto is in a bearish momentum and a sell signal.




The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.



CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190624 12:44:30