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Nov 03,2022

Technical Indicators Suggest That BTC Has Established Its Bottom

BTC is still trading above the $20,000 level despite falling 0.67% on the day.

BTC price breaking above 50 weekly EMA will be a reversal of market volatility.

BTC daily 20 EMA has crossed above the 50 EMA line.

Crypto market leader Bitcoin (BTC) is still trading above the $20,000 level despite a price increase of 0.67% over the past 24 hours, according to CoinMarketCap. The current price of BTC is also down 2.19% for the week.

Its price can reach a daily high of $20,742.81 and a daily low of $20,087.13. Meanwhile, the daily trading volume for BTC increased by 43.14% to bring the total trading volume to $55,757,082,615.

Investors and investors withinside the crypto markets were debating whether or not or now no longer BTC has reached its backside for this endure marketplace, as a backside for BTC will in the long run suggest that a turnaround for the crypto marketplace is close to or taking place.

Looking on the weekly chart for BTC/USDT, the charge of BTC has been in a -week high quality series main as much as this week`s candle. The charge is now coming near the weekly 20 Exponential Moving Average (EMA) line.

Should BTC`s charge smash above the weekly 20 EMA, then it may be argued that BTC`s backside has been established, and the crypto marketplace will begin turning round withinside the following weeks. A particular affirmation of a marketplace turnaround could be whilst BTC`s weekly 20 EMA line crosses bullishly above the 50 EMA line.

A principal bullish flag has been signaled on BTC`s each day chart because the each day 20 EMA has simply crossed above the each day 50 EMA. If the traces do now no longer move bearishly over the following days, it may be a very good possibility for investors to go into into a protracted swing trade.

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