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BTC/USD Faces Range Trading Conditions at Key Support and Resistance Levels


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Catalyst Event:Downside break of the 50-day exponential moving average (EMA)

One-Month Trading Outlook:Bearish

BTC/USD has made impressive rallies during the middle parts of 2019. However, the recent move downward through the 50-day EMA suggests that a near-term top may now be in place at $13,868.44.

Bitcoin - USD

Key trading range: $9,071.00 $13,868.44.

Outlook: Downside break of$9,071.00targets$7,427.00.

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BTC/USD Resistance 1:High from July 20th at$11,112.31.

BTC/USD Resistance 2: High from June 26th at$13,868.44.

BTC/USD Support 1:Low from July 17th at$9,071.00.

BTC/USD Support 2:Low from July 4th at$7,427.00.

Thisarticle by Richard Cox originally published onPlatinum Guild .



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