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Bitcoin (BTC) Daily Price Forecast – December 12
BTC/USD Medium-term Trend: Bearish
· Resistance Levels: $6,800, $6,900, $7,000
· Support levels: $3,300, $3,200, $3,100
Yesterday, December 11, the price of Bitcoin was in a bearish trend. In the last 48 hours, the price of Bitcoin had been in the bearish trend zone.
The crypto's price had been fluctuating above the $3,400 price level. It was suggested that if the bears broke the $3,400 price level, the crypto will resume the downtrend and price is expected to test the $3,000 price level.
Today, the crypto's price is below the EMAs and price is fluctuating above the $3,400 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the BTC price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.
BTC/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Bitcoin is in a bearish trend. In the bearish trend of yesterday, the crypto’s price fell to the low of $3,413.3 and commenced a bullish movement on the upside. The bulls broke the 12-day EMA but were resisted by the 26-day EMA and price fell back to the bearish trend zone.
Meanwhile, the price of Bitcoin is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall. The Relative Strength Index period 14 is level 37 which indicates that price is nearing the oversold region.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
Stitch Fix Inc $SFIX Tags Major Support Level, Buy Triggered
Shares of Stitch Fix Inc (SFIX) collapsed over 25% today on the back of poor earnings/guidance. The stock now finds itself trading below $20, down from a 52 week high of $52.50. While it appears to be doom and gloom there is some major light for technical traders. Stitch Fix tagged a major pivot low from June 2018 at $18.40 today. This pivot low signals a likely flush out of weak hands and the bounce signals accumulating by smart money. It would not be far fetched to see Stitch Fix trade back to $25 in the coming months.
Stock analysis is a method for investors and traders to make buying and selling decisions. By studying and evaluating past and current data, investors and traders attempts to gain an edge in the markets by making informed decisions.