BTC/USD 4H Chart: Pressured by 50– period SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellNeutral
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE]The Bitcoin cryptocurrency has depreciated about 21.82% in value against the US Dollar since September 22. The currency pair tested the lower boundary of a descending channel pattern at 7875.37 during last week's trading sessions.[/ANNOUNCE]

The 50– period simple moving average is currently providing resistance for the exchange rate at 8243.77.

If the resistance level holds, a decline towards the weekly S1 and the monthly S1 at 7195.57 could be expected during the following trading sessions.

However, if the BTC/USD pair breaks the 50-period SMA, bulls could push the price towards the monthly R1 at 9536.90 next week.

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