1-hour:
The Bitcoin [BTC] one-hour graph shows a mix of uptrends and downtrends that have skewed towards the bear’s domain. The uptrend indicates the price being lifted from $6,435.79 to $6,531.12. The succeeding downtrend brought the price down from $6,486.70 to $6,306.78. The support has been holding at $6,287.38, while the immediate resistance is set at $6,528.95.
The Awesome Oscillator [AO] shows the Bitcoin market momentum picking up after a lull. Over the past couple of days, Bitcoin’s momentum has been relatively greater than before.
The Relative Strength Indicator [RSI] puts the graph near the oversold zone. This is a sign of the selling pressure being more than the buying pressure. The graph also shows that Bitcoin had fallen towards the oversold zone from the fringes of the overbought zone.
1-day:
The one-day graph shows an acute downtrend, which has brought the price down from $8,396.83 to $6,500.88. The support for the daily graph has been holding at $5,827.11.
The Chaikin Money Flow [CMF] indicates the graph spiking just above the axis, which is a bullish sign. The CMF uptrend also points to money flowing into the market because of a change in the investor sentiments.
The Bollinger bands are in the midst of a sideways movement with the upper and lower band diverging ever so slightly. The divergence can result in an outbreak that, at the moment, is venturing into bearish territory.
Conclusion
Bitcoin [BTC] does not seem to be heading into any major bullish spike, as shown by the indicators. Although the CMF and AO point to a slight bullish run, a bear run looks to continue, coupled with sideways price movements.
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