Today's analysis on
#BTC Token Information:
Bitcoin is a decentralized cryptocurrency that was introduced in 2009 by an anonymous person or group known as Satoshi Nakamoto. It was designed to enable peer-to-peer online transactions without the need for intermediaries like financial institutions. Bitcoin was the first cryptocurrency to gain widespread use.
- Market Cap: $681,487,149,615
- Total Token Supply: 21,000,000 BTC
- Circulation Supply: 18,632,537 BTC
-Current Price: $34,656.3
-24-hour Price Change: +0.24%
-7-day Price Change: +3.03%
- Daily Volume: $4,458,041,813,51
PRICE TREND AND TECHNICAL INDICATORS:
According to Bybit, the latest Close Price for BTCUSDT is $34,656.3, with a 24- hour change of +0.24%. The price trend of the day indicates a higher probability of a bearish movement. This resonates with the MACD signal, where all indications are showing a bearish trend.
- MACD signal: Bearish
- MACD signal counts (within 7 days): 8 times
- MACD next 1-hour Bullish times: 3 times (37.5% chance)
- RSI: No specific pattern
-BOLL: No specific pattern
- BOLL support price: $34,241.7
- BOLL resistance price: $34,924.4
-KDJ: No specific pattern
It is worth noting that the accuracy of technical indicators improves when multiple indicators show the same signal. However, there is no consensus among the indicators analyzed in the 7- day and 30-day backtests.
THIRD-PARTY INDICATORS:
The Market Sentiment Index is currently at 65, indicating a sentiment of greed. However, it is important to consider other factors and not solely rely on sentiment indicators for making investment decisions.
In summary, based on the information provided, the price trend and technical indicators suggest a higher probability of a bearish movement for Bitcoin in the short term. However, it is crucial to consider multiple factors and indicators when making investment decisions.
#DYOR🟢