Currently valued at $9160, Bitcoin’s market capitalization was recorded to be over $165 billion and the coin suffered a decline of 0.8% over the past day. The trade volume was almost $26.3 billion in the 24-hours.
Resistance 1: $9794
Resistance 2: $10929
Support 1: $8360
The Bollinger Bands appeared to converge, which suggested decreased volatility for the coin.
The Awesome Oscillator or AO indicated the short-term period was trending slightly higher than the longer-term period, with weak bearish momentum.
The Chaikin Money Flow or CMF was just above the zero-line, which indicated an increase in capital flow in the market.
Resistance 1: $10929
Support 1: $8360
Support 2: $5116
The Parabolic SAR was bullish in the charts as the dotted markers appeared under the candlesticks.
The MACD line and the signal line completed a bullish crossover, after the signal line was seen under the MACD line.
The Relative Strength Index or RSI indicator suggested that Bitcoin was close to being over-bought at press time.
The price charts indicate Bitcoin is going through a short-term period of stability before a longer-term bullish movement takes place.
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