Table of Contents
Bitcoin Daily Price Analysis
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Looking at the 1-Hour chart on BTC/USDT, Bitcoin was unable to break out of its current resistance and started to fall after taking the liquidity sweep. According to CoinMarketCap, the live Bitcoin price today is $30,519.83 USD with a 24-hour trading volume of $13,539,541,141 USD. We update our BTC to USD price in real-time. Bitcoin is up 1.06% in the last 24 hours.
Indicators’ Readings
Bitcoin has been trading above the 200-day moving average in a 1-Hour timeframe, meaning buyers are favoring the current market and continuing to add more Bitcoin to their bags. However, on the RSI readings, the RSI value is now fluctuating around 50 value. It is more advisable for the investors or traders to load more BTC on the RSI value of 30.
What is Next for Bitcoin (BTC)?
The 15-minute resistance area of Bitcoin lies between $30800.15 and $30903.98. If the price can break out above the current 15-minute resistance, we can expect Bitcoin to go up to $31500, which is the 1-Hour resistance area. And if the bulls are in control of the market, an expectation of a breakout to the upper $31,800 price level can be seen.
However, due to Bitcoin’s price consolidation, the price may fluctuate between $31,000 and $31,000 in the upcoming days. A certain breakout to one side of either resistance or support needs to be seen for a more significant price movement.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.
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