- Bitcoin, at the time of writing this analysis, was trading around $8.8k after having a notable intraday pullback from a 2-month high of $9.2k
- However, the BTC price trend is still drawing a fine uptrend from the closing hours since yesterday until the press time
- No wonder, if $8.8k will also be an accumulating region like the prior ones at $7.7k and $7.5k
- The pair retains slight support from 50-day and 200-day MA on the intraday chart around $8.7k price area
- The MACD and signal line appear flat due to no lack of steady traction after plummeting below $9k
- The 20-day Bollinger Bands laid are seen squeezing and the price trend breaches above the upper Bollinger Band as the intraday appears slightly gaining
Bitcoin Price Analysis
The 20-day Bollinger Bands are seen widening, which means that the price trend is likely to hit either of the extremities, which we believe will hold a positive crossover as per the current momentum. You can click on our forecast page to know more about Bitcoin price prediction.
The technical indicators are drawing a mixed picture as the MACD holds a slight bullish crossover yet appears flat as there happens to be no steady direction alongside the RSI of Bitcoin lies around 56.90 with no trading extremities at present.