• News
    • Bitcoin
    • Altcoins
    • Regulation
    • Blockchain
    • Scam
  • DeFi Zone
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Market Cap
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook Twitter Instagram
Crypto World VisionCrypto World Vision
  • News
    • Bitcoin
    • Altcoins
    • Regulation
    • Blockchain
    • Scam
  • DeFi Zone
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Market Cap
Crypto World VisionCrypto World Vision
Home»Altcoins»Bitcoin Price Remains Within A Narrow Range, What’s Next For The Bears?
Altcoins

Bitcoin Price Remains Within A Narrow Range, What’s Next For The Bears?

2022-10-22No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin worth has been shifting inside a restricted vary for over every week now. The coin had tried to maneuver north over the previous few days. Nonetheless, it has not managed to commerce close to the $20,000 mark.

The motion of the Bitcoin worth has primarily remained sandwiched between $18,000 and $20,000, respectively.

Over the past 24 hours, BTC slipped by 0.4%, confirming that there has not been important worth motion.

Prior to now week, BTC depreciated by 1.1%. Total market power has been uneven, which is why market movers have remained boring on their respective worth charts.

The technical outlook of Bitcoin continued to facet with the bears. Shopping for power has remained low on account of a slowdown in demand for Bitcoin.

In response to its one-day chart, over the following buying and selling periods, Bitcoin is about to retrace additional and commerce near the $18,900 worth mark.

This assist degree marks a vital worth degree for the coin as it should decide the following transfer of Bitcoin relying on the demand for the coin.

Bitcoin Value Evaluation: One-Day Chart

Bitcoin Price
Bitcoin was priced at $19,100 on the one-day chart | Supply: BTCUSD on TradingView

BTC was buying and selling at $19,100 on the time of writing. The cryptocurrency has moved up and down inside the vary of $19,400 and $19,000.

Continuous motion in an analogous sample will strengthen the bears even additional. Overhead resistance for the coin was at $19,600, shifting previous which BTC will once more have a troublesome time crossing previous $20,000.

The bulls will solely take over from the $20,000 worth mark. Alternatively, the closest assist can be $18,900. It is a essential assist line for the coin.

See also  RichQuack Token Trending Crypto Meme Coin 100x Potential | Richquack Token Full Review | Meme Crypto

A fall from there’ll trigger BTC to maneuver to $18,300 after which to $17,400. The quantity of Bitcoin traded within the final session turned inexperienced, which might point out a small rise in patrons.

Technical Evaluation

Bitcoin Price
Bitcoin registered a small uptick in shopping for power on the one-day chart | Supply: BTCUSD on TradingView

Demand for the coin has seen a slight enhance over the past 24 hours. For many of this month, Bitcoin’s demand has remained low, and sellers have taken over the market.

The Relative Energy Index was under the half-line, and that meant a decrease variety of patrons as in comparison with sellers on the one-day chart.

Bitcoin worth was under the 20-SMA line, which additionally was in accordance with fewer patrons as sellers had been driving the value momentum out there.

Bitcoin Price
Bitcoin depicted purchase sign on the one-day chart | Supply: BTCUSD on TradingView

Nonetheless, BTC nonetheless continued to show purchase sign on the chart. Nonetheless, these had been declining and would quickly get replaced by promote sign.

The Transferring Common Convergence Divergence reveals the value momentum and route of the asset. MACD nonetheless displayed inexperienced sign bars, which had been purchase sign for the coin.

The Parabolic SAR additionally signifies the value route of the asset. The Parabolic SAR was above the candlesticks, which meant that the value was bearish for the asset.

The indicator indicated that the value of Bitcoin was in a downward pattern, which could possibly be reversed if demand returned to the chart.

Source link

Bears Bitcoin Narrow Price Range Remains Whats
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Chainlink surges 15% in a week as Bitcoin and Ethereum lag behind

2023-09-24

I asked ChatGPT about Bitcoin hitting $30k, the bot had a positive outlook

2023-09-24

Bitcoin dominance surges: Could it hit the coveted 50% mark?

2023-09-24

Why Bitcoin’s network expansion is not reflecting in BTC’s price

2023-09-24
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Top Altcoins to Watch Next Week: SOL, BNB, MATIC Price May Break Resistance

2023-05-14

Metaverse: What is it & How Does it Work?

2023-01-11

Assessing Bitcoin’s [BTC] state as Ordinals hit a new record

2023-05-03

Subscribe to Updates

Get the latest news and Update from Crypto World Division about Crypto, Metaverse, NFT and more.

Editors Picks

EOS reports strong TVL growth after deploying this strategy

2023-01-29

Here Are The Factors That Could Be Behind The Latest Bitcoin Wipeout

2023-08-18

Litecoin [LTC] shows signs of recovery, can this be the reason

2023-03-15

The FTX aftermath: Exchanges shoulder this shared responsibility of…

2022-11-12

Crypto World Vision
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptoworldvision.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$23,418.000.75%
  • ethereumEthereum(ETH)$1,640.732.33%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.00-0.10%
  • binancecoinBNB(BNB)$305.200.68%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.374110-0.89%
  • okbOKB(OKB)$52.010.03%
  • cardanoCardano(ADA)$0.363892-0.29%
  • matic-networkPolygon(MATIC)$1.25-2.49%