Bitcoin [BTC] was priced at $10,209.13 as it climbed by 3.17% over the 24-hour cycle. BTC maintained its dominance with 67.60% as market cap of $183.22 billion was recorded for the digital gold. BTC recorded $16.94 billion trading volume tover the course of 24 hours, at press time. The major portion of the trading volume was created over the BKEX exchange trade using BTC/USDT pair, according to CoinMarketCap.
1-Hour BTC
In the 1-hour chart, BTC faced resistance at $10,885.70 and $10,233.46 respectively, in addition to getting support at $10,135.93 and $9,825.05. The king coin saw a steep downtrend from $10,885.70 and ended at $10,288.32.
Source: TradingView
Parabolic SAR pointed a bullish trend as the dotted markers were present below the candles.
The MACD line crossed below the signal line, revealing a bearish trend with a slight chance of a reversal in the offing.
The RSI indicator stood at 60.84, displaying that buying pressure was high.
1-Day BTC
BTC got support at $10,078.12 and $9,436.53. The king coin faced resistance at $12,841.89 and $10,917.12. BTC recorded a sharp downtrend from $11,904.19 to $10,176.83. Earlier, digital gold recorded an uptrend from $4,896.04 to $12,891.25.
Source: Trading View
Bollinger Bands were squeezing, pointing towards reduced market volatility.
Awesome Oscillator presented a bearish selling opportunity as the long-term momentum was greater than the short-term momentum.
The CMF indicator stood at 0.18, revealing that money flowing into the market was greater than the money flowing out of the market.
Conclusion
Indicators pointed towards bullish momentum of the digital gold as it stood in bullish horizon.
