Bitcoin Price Analysis

Bitcoin has failed to post gains in today’s session, with the Bitcoin price at $39.9K as of press time, representing a 0.2% decrease in the last 24 hours to bring the weekly drop to 3.5%. Bitcoin’s trading volume has dropped by 12% over the same period to stand at $17.9B.

An in-depth analysis of 24-hour BTC/USD charts reveals bulls are now in control. This is seen from the Relative Strength Index, which is on a northern trajectory, showing bull action on BTC. The MACD indicator, on the other hand, is reverting towards the green zone, showing bull action on the Bitcoin price as well.

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