What You Need To Know About Today’s Bitcoin Technical Analysis?

Bitcoin prices are looking bullish as the prices are rising since November 29. The 24-hour change shows an almost 2% increase in Bitcoin’s prices.

Current price: $4012

Market Cap: $69.83 billion

Trade Volume: $5.18 billion

Bitcoin Price Analysis Report For 1 Day

Bitcoin technical Analysis

  • Uptrend

There are no signs of an uptrend for Bitcoin in the one-day chart seems too good to be true in the current bear scenario.

  • Downtrend

The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $9799 to $4142.

  • Support

Bitcoin prices are supported at $3730 which is holding steady, as the support got tested November 27.

  • Resistance

The resistance points for Bitcoin can be seen starting from $7359, $8390 to $9799. The rest of the chart shows nothing but brutal dips by Bitcoin.

Indicators Responsible for Crypto Fluctuations

  • Parabolic SAR

The Parabolic SAR indicator shows a bullish sign for Bitcoin as the dots forms below the price candles.

  • Awesome Oscillator

Awesome Oscillator shows an increase in the prices as there is a shift of red bars into green, but the overall momentum is still low as the bars are hanging below the zero line.

Bitcoin Price Analysis Report For 1 Hour

  • Uptrend

The uptrend has seen a decline as the prices saw a huge dip on December 3, 2:00 UTC, so the uptrend ranges now from $3676 to $3938.

  • Downtrend

The downtrend for Bitcoin seems strong and it ranges from $5495 to $4158, in one length without any breakups.

  • Support

The prices for Bitcoin have taken off from the support at $3605 in what seems to be a short bull-run as the prices have fallen down again.

  • Resistance

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

Indicators Responsible for Crypto Fluctuations

  • Bollinger Bands

The bands have expanded after the price drop on December 3, 2:00 UTC indicating an influx of volatility and the prices have reached the oversold zone.

  • Relative Strength Index

The RSI has crossed below the 40 line and hit the 30 line, indicating that Bitcoin prices have reached the oversold zone.

Enjoyed the read? Share more ideas on topics you want us to cover! 

Summary
What You Need To Know About Today's Bitcoin Technical Analysis?
Article Name
What You Need To Know About Today's Bitcoin Technical Analysis?
Description
Bitcoin price looks bullish as they are rising since November 29. 24-hour change shows almost 2% increase in prices according to Bitcoin technical analysis
Author
Publisher Name
Coinpedia
Publisher Logo
Tags
Show More

Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

15 − four =

Back to top button
Close