bitcoin price Analysis reveals the cryptocurrency is showing a bullish bias today as the price rose again to $16,853 after the bullish momentum returned. was leading until yesterday. However, today the trend has changed in favor of buyers and the price has risen significantly in the last few hours. You cannot cross the symbolic mark.
The market has entered today’s trading section in bullish mode. The price surges and if the bullish momentum continues, BTC could soon reach the $16,908 resistance level. doing.
BTC/USD 1-day price chart: Bitcoin still fails above $16,908
Bitcoin Price Analysis 1-day price chart shows BTC/USD price trading at $16,853 at the time of writing as the bulls lead the price to sustain the price level above $16,908. It shows that the price function covers the upward range. , the coin shows an increase in value of more than 0.20%, which is a small but significant increase. The 24-hour trading volume reached a maximum of $12.84 billion, up more than 35%, and the coin’s It shows that demand is increasing. Additionally, Bitcoin’s market capitalization is he $324 billion, the highest in the market.
The Exponential Moving Average (EMA) is in bullish mode and EMA50 is above EMA100. This indicates positive momentum and this can be seen as an opportunity for buyers to take advantage of the trend and buy more BTC. This means that if buyers successfully break out of the $16,908 resistance level, we could see further gains in the price.
The Relative Strength Index (RSI) lies at the index of 47.63 in the upper half of the neutral zone. The RSI is trading in an upward curve, indicating more buying activity in the market.
Bitcoin Price Analysis 4-Hour Chart: BTC Rebounds to $16,908 Mark
A 4-hour Bitcoin price analysis shows that the price breakout went higher in the first 4 hours of today’s session as a positive spike from $16,755 to $16,908 was observed. As the price surged, the bulls took the lead and pushed the price to his $16,931 level before falling again.
MACD is in bullish mode with both the MACD line and the signal line trading above 0.95. The histogram of the indicator is also in the bullish territory, indicating that buyers are dominating the market.
In addition, the RSI is trading at level 49.32, which indicates that purchasing power is strong and the price may move to higher levels. On the other hand, the Exponential Moving Average (EMA) is in bullish mode with EMA50 above his EMA100. This indicates that the price could continue to rise if buyers break out of his $16,908 resistance.
Bitcoin price analysis conclusion
Bitcoin price analysis shows that cryptocurrency prices are on the rise today as some recovery is observed. The coin gained considerable value in just 4 hours. The coin is approaching the resistance zone. However, while we expect BTC to continue its rise today, it may not be able to break out of the consolidation just yet.
