Bitcoin bulls bellow as the digital gold maintains steady growth above $10,000 mark - AMBCrypto
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Bitcoin bulls bellow as the digital gold maintains steady growth above $10,000 mark

Biraajmaan Tamuly

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Source: Pixabay


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

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

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.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.