Are You Excited To Know Today’s Bitcoin Technical Analysis?

Bitcoin prices suffered yet another dip in the prices on November 30, 04:00 UTC and the prices fell from $4,200 range to $3,800 range, which is a decline of almost 10% in a day. However, the prices are trying to recover since then.

Current price: $3974

Market Cap: $69.16 billion

Trade Volume: $6.00 billion

Bitcoin Price Analysis For 1 Day Trading

Bitcoin technical Analysis

  • Uptrend

The uptrend for Bitcoin seems unavailable with the markets dipping down. The prices have recovered from the yesterday’s dip, but they still have recovered enough for an uptrend.

  • Downtrend

The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $9799 to $4245.

  • Support

The support in the longer time frame, i.e., the one-day time frame can be seen at $3731.

  • Resistance

Resistance points can be seen at $9799, $7360 to $6750. The rest of the chart massive dips and short recoveries.

Indicators You Should Consider

  • Bollinger Band

The Bollinger Bands experienced a short squeeze and have since been on an expansion, which shows massive induction of volatility in the market. The prices have been trying to get to the middle of the simple moving average.

  • Chaikin Money Flow

The Chaikin Money flow indicator shows that sellers are dominating the buyers, and that bears still control the bitcoin markets.

Bitcoin Analysis For 1-Hour Trading

  • Uptrend

The uptrend for Bitcoin ranges from $3676 to $3932 which slightly lower than yesterday’s uptrend.

  • Downtrend

The downtrend for Bitcoin ranges from $5495 to $3974. The downtrend in the one-hour chart seems to have been increasing in strength as the prices dipped further down on November 30.

  • Support

The support for Bitcoin is holding steady at $3603, even though the prices bounced off of this point twice in the last two days.

  • Resistance

Initial resistance can be seen set up at $4345, which was breached by yesterday’s candle’s wicks. But the resistance point can at $4583 is safe.

Indicators You Should Consider

  • MACD

The MACD indicator shows an incoming bullish crossover, as the MACD lines have crossed the signal line.

  • Stochastic RSI

The Stochastic RSI has reached the overbought zone and is saturated there, hence a bearish crossover is taking place.

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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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