Bitcoin Technical Analysis (24 hours): Current trend and indicators

Current price: R$64,795.30 (Coinbase, April 21, 2024, 4:40 pm EDT)

Trading volume in the last 24 hours: R$107.34 billion (Coinbase)

Trend:

Short term: Neutral. Bitcoin has been in a sideways movement over the last 24 hours, with no clear direction defined.

Medium term: Slightly Bullish. Bitcoin has been rising gradually in recent weeks, with support around R$60,000.

Indicators:

200-day Simple Moving Average (SMA): R$62,000. The price is above the 200-day SMA, which indicates a medium-term bullish trend.

Relative Strength Index (IFR): 52. The IFR is in neutral territory, meaning Bitcoin is neither overbought nor oversold.

Average Convergence Divergence (MACD): Uptrend. The MACD is above the signal line and in an uptrend, which indicates positive momentum for Bitcoin.

Considerations:

Bitcoin is at a crucial moment, with resistance around R$65,000. If the price manages to overcome this resistance, it could begin a stronger upward movement.

On the other hand, if the price falls below R$60,000, it could enter a downward movement.

It is important to remember that the cryptocurrency market is highly volatile and prices can move quickly. It is crucial to do your own research before making any investment decisions.

Recommendations:

Short-term investors: Wait for confirmation of price direction before making any decisions.

Long-term investors: Continue to accumulate Bitcoin at dips and maintain a long-term perspective.

Remember if:

This analysis is not financial advice and should not be construed as such.

Do your own research before making any investment decisions.