After renewing a new all time high, Bitcoin now appears to be correcting again. Bitcoin fell 2.28%, Ethereum fell 2.91%, Solana fell 0.19%.
The Fear and Greed Index shows a value of 92, which means market extreme greed for crypto assets.
#Bitcoin price in the last 24 hours was in the range of Low $68,728.85 and High $72,953.72. Some investors still believe Bitcoin can climb $100K as demand increases.
Bitcoin Technical Analysis Today
Bitcoin price is now at $71,208.41. with a trading range of Low $68,728.85 and High $72,953.72.
The technical summary of indicators by Investing Today shows a sell signal. Meanwhile, a summary of several Moving Averages provides a Buy signal.
On Ticktrader FXOpen, Bitcoin/USD shows the price forming a bearish candlestick with a long shadow at the bottom of the candle. The long tail reflects market behavior which shows an increase in buyer volume.
The Bollinger band structure still forms an upward channel with wide band spacing indicating an uptrend market with high volatility.
MA 50 is also still forming an ascending channel above the lower band line indicating strong bullish momentum.
The RSI indicator shows 74, which means the price is still in the overbought zone and trying to get out of the zone.
On the H1 timeframe, price moves above the lower band line below the middle band line.
In this time frame, the Bollinger bands form a flat channel with a fairly wide distance between the upper and lower bands, an indication of moderate market volatility.
The 50 MA is right above the price forming an upward channel, a break above allows the price to find new resistance near the middle band line.
The RSI indicator shows a value of 46 which means the price is below the downtrend level,
Support and resistance
On the H1 timeframe support zone-based lower band at roughly $70460. and resistance-based middle band at roughly $71643. The next resistance-based upper band at roughly $72640. In general, Bitcoin's daily movement refers to the low and high price performance that occurred in the last 24 hours.