- The price of BTC is trading at $30331.31.
- The BTC price decreased by 0.35% in the last 24 hours.
- The BTC year-to-date return is +83.68%.
Weekly Trend Analyzation
This week the trend was bullish as the price was up by 15.30%. We can say that BTC is performing well by direction and price information history.
All-Time History Analyzation
The coin’s value surged by more than 10000% in all-time history, giving good returns to the investors’ money.
Chart Analyzation In 1-D Timeframe
Trendline Analyzation
As per the trendline, it respects multiple support and resistances very well, taking from the drawn trendline on the chart and between the zones. It was bearish before from the point where it was rejected from the supply zone. Recently, it took support from the demand zone and even gave a breakout with high momentum. Since the resistance is high and might be challenging to the king of coins, we can see consolidation in the upcoming days, and if the price sustains and overcomes the supply zone, we will see new targets soon. So, as price action speaks, it is trying to maintain and slowly approach the supply zone. It can reach $31667.69 soon, which is the nearest significant resistance.
MACD
The MACD line crossing above zero is a bullish signal indicating upward momentum and a likely price increase. When the MACD line crosses above the zero line, it suggests that the short-term EMA is higher than the long-term EMA and is seen as a bullish signal. This indicates that the current momentum is positive, and the price may increase.
EMA
On the 1D chart, the price is going up. It is above the 20, 50, 100 & 200 EMA (exponential moving average), resisting the trend and pushing it upwards. The buyers are more robust than the sellers, which shows that the price can exceed resistance levels as the bulls’ support is high. The price has to go below and sustain below the 20, 50, 100 & 200 EMA to change the direction. Hence, it can be inferred that the price might rise soon.
RSI
When RSI moves above 70, it indicates that prices may have risen too fast and should soon start to drop; when it moves below 30, it suggests that prices have fallen too fast and should quickly rise. Since it’s betweeit and 30, it is interpreted as if the RSI is above 50, a buy signal, and below 50 is a sell signal. As observed on the chart, the values seem above 50, so we can say it is a buy signal. The RSI line is in a bearish zone, i.e., trading above the median line. The market is bullish since the 14 SMA and RSI lines are above the median area.
Volume Analyzation
The amount of Bitcoin (BTC) traded daily is $13,897,194,485. It rose by 6.49% since the last day. The trading activity seems to be comparatively good in BTC in the short term, and the presence of buyers for the coin has also increased significantly. The market is favorable, and the company of buyers for the cash also increased significantly. Therefore, it can push the price up due to the considerable volume present in the market.
Conclusion
Currently, the technical parameters for the BTC coin indicate bullish pressure in the long trend. The sentiments of investors and traders are bullish. If the price continues to move under the buyer’s conbuyer’st will rise more shortly from the current levels. Presently, the sentiments of investors and traders are bullish regarding the price of BTC in the 1D timeframe.
Technical Levels:
- The Nearest Support Level is $25002.57.
- The Nearest Resistance Level is $31667.69.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t estabdon’tthe investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
