Bitcoin Price Analysis: Bitcoin Price (BTC) Hits $10,100 After Trading at $10,600; Short-term Seems Bullish
Bitcoin price has been trading above $10,000 since quite some time now, only with a few dips in between. But important to note that BTC has not slipped below $9800 in the past 10 days.
However, as per Bitcoin price projection, BTC price has been moving within two extreme ranges between $10,600 to $10,100. Although the Bitcoin value has been firmly maintaining the psychological major support level at $10,000 and resistance near $10,800.
Price Chart of BTC to USD by TradingView:
The below bitcoin price chart is a data feed from Coinbase as on 27th August at 04:32 UTC.
The intraday movement of Bitcoin has been flattish with 4.70% plunge trading from a stretch of $10,681.73 to $10,178.80 in the initial hours, yesterday. After that BTC price had been constantly moving in the range of $10,200 to $10,400 for the rest of the day. Today the coin opened with a downward trending motion, trading from the closing price of $10,399.05 to the current trading price of $10,164.41 with a 2.25% dip.
Price of Bitcoin has marked a high at $10,406.08 and a low at $10,194.50 in the past 24 hours. BTC value attempts to rise from the selling pressure it was facing from quite some time now, but the recent dip has left the coin in the same pit.
BTC current trading price is notably below its major short-term SMAs and until the 50-day SMA.
Technical Indicators:
The current trading price is 1.00% and 4.30% less than the 5-day SMA ($10,254.35) and the 50-day SMA ($10,621.14) respectively. Also, BTC trading price is not better off than its 5-day EMA ($10,262.49) as well.
The MACD of the bitcoin price today appears flat at zero and currently moves in the negative zone with a bearish crossover.
The RSI is near 30 and has a strong inclination towards the oversold region.
