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- 1 The Bitcoin coin’s price increased by 1.44% over the last week and trading above major EMA’s.
- 2 The price of BTC coin is trading at $0.11425 and the 52-week range is $19569 – $31818.
Bitcoin crypto plummeted by 1.17% in market value and by 35.58% in trading volume in the last 24 hours, as per the coinmarketcap, a crypto data analysis website. Its market value is $574,065,793,988 and its trading volume is $14,008,174,850. There are 19,453,181 BTC in circulation.
BTC coin has not performed well in the last month, decreasing by 2.99% and surged by 36.41% in the last six months. Bitcoin (BITSTAMP: BTC) coin has a positive year-to-date return of 78.58% and a one-year return of 27.51%.
BTC Coin Price Technical Analysis in the 1-Day Timeframe
BTC coin price showed an upward trend for the past three months from a major demand zone around $24751 by 15 June, increasing by 9.22% during this period. At the time of publication, the BTC Coin price was trading at $29525, and the price took recent support at $28733.
Therefore, if the BTC Coin price sustains the current level and rises, then it might hit the nearest resistance levels of $30048 and $31100.
However, the Bitcoin coin price could continue to move downwards and reach the nearest support at $28733 and $28112. If it fails to maintain the current level.
At the time of publishing, the BTC coin price (BITSTAMP: BTC) is trading above the 50, and 200-day EMAs (exponential moving averages), which are supporting the BTC Coin price trend.
Hence, Bitcoin Coin price prediction estimates the prices to move upwards, indicating a bullish outlook over the daily time frame chart for its price.
The MACD line at 79 and the signal line at 123 is below the zero line and both lines crossed each other a bullish crossover is observed in the MACD oscillator, suggesting bullish signals. The current value of the RSI is 51.44 points and the 14-day SMA is below the median line at 46.11 points, which indicates an upward direction and bullish sentiments in the market for the Bitcoin coin.
Conclusion
BTC coin price prediction highlights the bullish sentiments and perspectives of investors and traders regarding the Bitcoin coin in the daily time frame. Bitcoin price action highlights a bullish view at the time of publishing. Moreover, the technical parameters of the Bitcoin price suggest the continuation of the uptrend over the daily time frame chart. Major trustworthy indicators MACD, RSI, and EMA, provide positive signals regarding the Bitcoin coin price.
Technical Levels:
- Support levels: The nearest support levels are $28733 and $28112.
- Resistance levels: The nearest resistance levels are $30048 and $31100.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
