Bitcoin [BTC] Price Analysis: Coin rescued by the bull as market fall stalls
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The cryptocurrency market took most major coins on a rough ride over the past few days. Bitcoin, the largest cryptocurrency in the market also suffered. However, the coin managed to maintain its bullish trend even in the overwhelming bear’s market.
At press time, the coin was valued at $3,858.56 with a market cap of $67.7 billion. The coin noted a 24-hour trading volume of $7.7 billion while noting a minimal growth of 0.21% over the past 24 hours. The coin reported a fall of 2.42% in the last seven days while noting a meager growth by 0.06% over the past hour.
1-hour
The one hour chart for BTC noted an uptrend from $3,931.38 to $4,162.51, followed by a steeper downtrend from $4,163.08 to $3,807.50. The coin drew resistance at $3,860 and support at $3,734.23.
The mouth of the Bollinger Bands appears to have converged, indicating reduced market volatility.
Awesome Oscillator marked a weakened bullish momentum.
Chaikin Money Flow, on the other hand, reported a bearish trend as the marker was under the zero line.
1-day
According to the one day chart for the coin, a downtrend was marked from $7,359.99 to $4,110. The coin noted a minimal uptrend from $3,184.28 to $3,734.23 while noting resistance at $4,110 and support at $3,358.99.
Parabolic SAR pointed towards a bullish market as the markers were aligned under the candlesticks.
MACD line was over the signal line, marking a bullish market. However, a crossover is imminent, suggesting that the bears may soon take over.
Original story: https://ambcrypto.com/bitcoin-btc-price-analysis-coin-rescued-by-the-bull-as-market-fall-stalls/
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