Mr Arham

2024/12/05 03:53

Bitcoin Current Condition According to CoinMarke

Bitcoin Current Condition

According to CoinMarketCap data, BTC is up by 1.36% as compared to the last 24 hours and 1.51% for the last 7 days. This is not a good sign of bullish momentum because the largest crypto fell by 7.17% last week before closing at a 0.72% down from its previous week. Bitcoin even failed to get a good upward force starting this month. This worries traders and investors. On the other hand, the cryptocurrency is also losing its daily trading volume. At the time of writing, it is down by 2.67%. 

After hitting a new all time high at $99,660, btc faced rejection causing it to decline to a bottom of $91,770. Being a support zone and presence of MA 100 prevented the further fall and bounced it back. However, the reduction in the strength was clearly visible as more and more doji candles started to form. Currency the price at $95,800 has support from MA 100 as well as MA 50 on a four hour chart. But will these two moving averages be able to handle the pressure, time will tell.

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