Bitcoin Technical Analysis: BTC shows promising signs across all time frames

Bitcoin price currently stands at $71,347, showing an impressive rise in the 24-hour intraday range between $70,065 and $71,595. With a trading volume of $25.17 billion and a market capitalization of $1.4 trillion, Bitcoin has gained 4.9% this week, 5.6% over the past two weeks and 14.4 % in the last 30 days.


Bitcoin’s 1-hour chart reveals a recent recovery after a sharp decline, with a key resistance level at $71,629 and support around $70,116. Higher volume during recent dips indicates strong selling pressure, while subsequent increases in volume suggest strong buying interest.

BTC/USD daily chart via Bitstamp.

The 4-hour chart maintains an uptrend from around $67,281 to a recent peak of $71,759. Consistent with the 1-hour chart, primary resistance is at $71,759, with support at $70,116. The volume analysis here shows increased activity during upward moves, confirming strong buying interest.

BTC/USD 4-hour chart via Bitstamp.

On the daily chart, Bitcoin shows a sustained uptrend from $60,176 to a recent high of $71,958. Resistance is set at $71,958, while support is stronger at $67,000. Volume spikes during price spikes indicate continued buying interest, while volume declines during consolidations suggest temporary pauses.

BTC/USD oscillator values ​​present mixed but generally positive outlooks. The Relative Strength Index (RSI) at 63 is neutral, and the Stochastic at 86 indicates overbought conditions. The Commodity Channel Index (CCI) suggests bearish sentiment, while the Moving Average Convergence Divergence (MACD) and Momentum indicators signal buying opportunities.

Moving averages (MA) at different timeframes consistently indicate a strong bullish signal, with both exponential moving averages (EMA) and simple moving averages (SMA) above key price levels, reinforcing the bullish sentiment. Longer-term MAs such as the 50-day EMA at $66,713 and the 50-day SMA at $65,634 indicate positive sentiment.

The 100-day EMA and SMA at $63,566 and $66,477, respectively, along with the 200-day EMA at $56,491 and 200-day SMA at $55,282 consistently show buying signals, underlining the positive long-term outlook term for bitcoin. Between these technical indicators and market behaviors, bitcoin’s current trajectory suggests solid resilience to short-term volatilities, underlined by consistent bullish momentum across various time frames.

Bull verdict:

Given the consistent upward trends observed on the 1-hour, 4-hour, and daily charts, along with the strong buying interest indicated by volume spikes and positive moving averages, bitcoin appears poised for further gains. Traders should remain optimistic, watching for key breakouts above resistance levels to capitalize on the ongoing momentum.

Bear Verdict:

Despite the current bullish trends, caution is warranted as key oscillators show mixed signals and potential overbought conditions. If bitcoin fails to break out of critical resistance levels or shows significant selling pressure near support levels, traders should prepare for possible downside corrections and consider protective measures.

Leave a Reply

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

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected] kashmiri girls sex jayasex desi bhabi xxx xlnindia 1st time sex video たかはししょうこ動画 真正中出し3本番 彩乃なな sex film sexy film xnxx indian teens
ano nga ba ang pangarap hello heart episode 3 reshma hot saree images xvidies com bihar chudai heroine photo hot dasixx ileana d'cruz hot photoshoot hindi movi
www sxe vidoes boops sucking dehati fuck chuk chuk rail gujaratisexvidio probinsyano october 18 2021 full episode ang probinsyano july 14 2022 قصص سكس كرتون سكس بنات تخينة