With 2019 coming to an end, the crypto market is gearing for a bearish trend, as per the recent market analysis. However, Bitcoin price has seen a bit relief since the last 24 hrs.
Bitcoin is by far the topmost cryptocurrency by market capitalization as well as in terms of popularity. The year 2019 has been a disappointing one for this crypto. Currently trading at $7,316.18 USD, BTC has seen a surge of 1.61%. with a 24hr volume of $22,355,272,389 USD and circulating supply of 18,084,175 BTC.
BTC One Day Analysis:
BTC in the last 24 hrs has seen ups and downs. Wednesday late evening, Bitcoin price rose drastically by 3% and reached $7536.28. After a stagnant price growth, in the wee hours of Thursday as per UTC timezone, BTC price again dropped down to $7219.10 USD. This price drop was the lowest in the last 7 days.
BTC Technical Analysis:
Looking at the chart, the bitcoin price is clearly following a slight uptrend below the $7,320 level. Analysts are hopeful that Bitcoin will garner price till Christmas.
- MACD – The MACD is currently gaining strength in the bullish zone.
- RSI (Relative Strength Index) – The RSI for BTC/USD is currently increasing going further away from the oversold levels.