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The cryptocurrency market has bled in recent days and many coins that have reigned in the market during the uptrend have fallen prey to the bear. Bitcoin [BTC], the kingpin, is one of the coins that suffered the bearish market burn.
At the time of printing, BTC had a value of $ 3,662.5, with a market capitalization of $ 64 billion. The currency recorded a 24-hour trading volume of $ 5 billion, with a minimum growth of 0.01% over the last day. The currency shows an overall decline of 5.48% in the last week. The coin has fallen and the 24-hour drop in the currency is 0.87%.
1 hour
Source: trading view
According to the chart of a currency time, an uptrend of $ 3,787 to $ 3,990.01 was noted. The slope down was observed from $ 4,025.69 to $ 3,621.55. The currency recorded resistance at $ 3,656.23 and support was noted at $ 3.608.99.
Awesome Oscillator marks a bearish trend losing momentum.
Bollinger bands seems to be in a converging point, indicating a reduced volatility in the market. The moving average line is above the candlesticks, marking a bearish reign on the market.
Chaikin cash flow it also indicates a downward trend in the market as the marker is below zero.
1 day
Source: trading view
The one-day chart of the coin shows a massive downward trend in the value of the $ 6,258.74 coin to $ 3,380.01. The currency recorded only a slight increase from $ 3,184.28 to $ 3,799.99. The currency found immediate resistance at $ 4,075.33, while the currency received strong support at $ 3,183.01.
Parabolic SAR it points towards a bear market while the indicators line up above the candlesticks.
MACD the line is below the signal line, pointing towards the awakening of the bear.
Relative strength index indicates that buying and selling pressures give each other night.
Conclusion
According to the indicators, Awesome Oscillator, Chaikin Money Flow, Bollinger Bands, MACD and PArabolic SAR, a bearish realm seems to be the future of money.
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