Bitcoin Price Analysis (BTC/USD)
According to an hourly chart, BTC/USD pair has been facing a high vitality in the last 24hrs. BTC/USD pair has thereby slightly dipped by 0.89% since it opened trading yesterday at $11914.02 and is now at $11807.04. The moving averages have intertwined that signaled a lack of dominance from either buyer or sellers.
The sideways momentum defined resistance level at $11987.41 and support level at $11555.19. The RSI indicator is currently heading south, which signals a drop in BTC price, thus increase in buyouts. That brought the market capitalization of BTC to $211,104,996,530.
However, the major reasons behind the volatility state of BTC price could perhaps be due to that lack of new retail investors in the market. Meaning only the investor that has already invested in the crypto are the only ones driving the price of BTC upwards.
Bitcoin Price Prediction (BTC/USD)
The 7 day MA is currently above the 21 day MA that indicates a bullish momentum is to be expected. If the bulls manage…