Bitcoin [BTC] has been going through a consistently evolving bear market. At press time, BTC was valued at $3,903.31 with a market cap of $69 billion. The coin noted a 24-hour trading volume of $9.6 billion, while noting a growth of 0.15% over the past day. The token rose by 3.76% over the past seven days, but was dipping by 0.27% over the past hour, at press time.
The one-hour chart of the coin noted an uptrend from $3,695.26 to $3,890.03, followed by a downtrend from $3,928.91 to $3,909.47. The coin traced resistance at $3,909.47 and support at $3,876.85.
Bollinger Bands appeared to be converged, decreasing the volatility in the market. The moving average line was above the candlesticks and indicated a bearish market.
Awesome Oscillator also marked a weakened bearish trend as the markers were red.
Chaikin Money Flow indicated a bearish market for the token as the marker was under the zero-line.
The one-day chart of the coin noted two downtrends which extended from $6,188 to $3,774.99 and $6,511.88 to $3,947.33. There were no significant uptrends marked on the one-day chart of BTC, but a minuscule rise in price was noted from $3,358.99 to $3,700.02. The coin traced resistance at $4,110 and support at $3,358.99.
Parabolic SAR marked a bearish market as the markers had aligned above the candlesticks.
MACD line was under the signal line after a crossover and marked a bearish market.
Relative Strength Index indicated that the buying and selling pressures had evened each other out.
According to the indicators from the one-day and one-hour chart, a bearish trend was forecast for the largest cryptocurrency.
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