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Check Out The Bitcoin Technical Analysis

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

1 day bitcoin price analysis

  • Uptrend

The uptrend is blown out of the playing field since the bears have mutilated Bitcoin.

  • Downtrend

The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $9799 to $3800.

  • Support

Bitcoin prices are supported at $3800 which is quite higher than the earlier supports.

  • Resistance

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.

Indicators

  • 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

  • Uptrend

The prices are moving up but it is too soon to have an uptrend form yet.

  • Downtrend

The downtrend for Bitcoin seems strong and it ranges from $5495 to $3799, in one length without any breakups.

  • Support

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.

  • Resistance

Initial resistance can be seen set up at $4345, a post which the resistance point can be seen at $4749 and $5544..

Indicators

  • MACD

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.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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