Bitcoin prices look slightly bullish since the prices have bounced off of the support and show a slight green trend after a very long time of the bear market.
Current price: $3881
Market Cap: $67.528 billion
Trade Volume: $6.09 billion
1 Day Bitcoin Price Analysis
The uptrend is blown out of the playing field since the bears have mutilated Bitcoin.
The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $9799 to $3800.
Bitcoin prices are supported at $3800 which is quite higher than the earlier supports.
The resistance points for Bitcoin can be seen that ranges from $7359 to $9799. The rest of the chart shows nothing but brutal dips by Bitcoin.
- Bollinger Band
The Bollinger Bands experienced a squeeze and have since been on an expansion, which shows induction of volatility in the market. The prices have hit the lower band indicating an oversold market.
- Awesome Oscillator
The Awesome Oscillator shows a bearish momentum increasing as the red spikes are increasing without stop.
1 Hour Bitcoin Price Analysis
The prices are moving up but it is too soon to have an uptrend form yet.
The downtrend for Bitcoin seems strong and it ranges from $5495 to $3799, in one length without any breakups.
The support for Bitcoin is holding steady at $3605, even though the prices bounced off of this point three times in the last two days.
Initial resistance can be seen set up at $4345, a post which the resistance point can be seen at $4749 and $5544..
The MACD line has crossed the signal line which indicates a bearish crossover. The histogram, however, shows green bars as these lines are going up.
- Relative Strength Index
The RSI has crossed above the 50 line and is almost reaching the 60-line, which shows a slight bullish trend.