Bitcoin prices have been suffering massive price drops ever since it fell down the $6500 range and it seems like the prices have been stuck ranging between $3500 to $4500.
Current price: $3750.86
Market Cap: $65.248 billion
Trade Volume: $6.49 billion
1 Day Bitcoin Price Analysis
The uptrend is not to be seen since the prices for Bitcoin is dipping continuously and shows no signs of upward momentum.
The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $8390 to $3936.
The support in the longer time frame, i.e., one-day timeframe seems to have disappeared.
Two resistance points can be seen that ranges from $7359 to $6750. 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 uptrend for Bitcoin has vanished from the horizon as the downtrend progresses and the prices dip further down.
The downtrend for Bitcoin ranges from $5495to $3725, which is further down than it was on November 26.
The support for Bitcoin is holding steady at $3603, even though the prices bounced off of this point twice in the last two days.
Initial resistance can be seen set up at $4047, a post which the resistance point can be seen at $4583.
- Parabolic SAR
The SAR dots can be seen supporting the price of candles from below which indicate a clear bullish trend or presence in the market for Bitcoin.
- Relative Strength Index
The RSI has recovered from wandering in the oversold zone and hanging in between the 50 and the 40 line.