Bitcoin

<p>TL;DR Breakdown</p><ul><li>Bitcoin price analysis shows a strong gain over the past 24 hours as bullish momentum continues to push prices higher.</li><li>The leading cryptocurrency has now risen above $26,000 after a strong period of consolidation.</li><li>The 24-hour chart shows that BTC has gained over 7.08% since yesterday’s low and is currently trading at $26.010.</li></ul><p>The latest Bitcoin price analysis for today shows a strong bullish momentum. The BTC/USD is currently at a crucial level above $26,000 and is likely to continue its rally in the short term. At the time of writing, the cryptocurrency is sharing its most significant gains in the last 24 hours at $26,010. We can see that the coin has been consolidating for a few days and is now gaining momentum as the bulls look to push past this level.</p><p>The Silvergate bank announcement for providing access to institutional investors could be driving this momentum. The recent news has certainly helped boost investor confidence in the asset class. The fundamentals of cryptocurrency are also strong, with a strong underlying network and increasing demand from institutional buyers. With Bitcoin halving around the corner, it is likely that there will be further upside momentum as investors and traders look to capitalize on the supply/demand imbalance.</p><p>The market cap for BTC/USD is currently at $499 billion, with a 24-hour trading volume of over $49 billion. This shows that there is significant demand for the asset class, and it could very well be headed for new highs in the short to medium term.</p><h2 id="header-0">Bitcoin price movement in the last 24 hours: Bulls to hit a new record high?</h2><p>The 24-hour chart of the BTC/USD pair shows a strong bullish trend, with prices trading above $26,000. The BTC/USD has traded in a range of $23,871 to $26,514  in the last 24 hours and is likely to move higher as traders look to capitalize on the bullish sentiment.</p><p>As it stands, Bitcoin price analysis suggests that the cryptocurrency could be headed for new highs in short to medium term as investors and traders continue to capitalize on its strong fundamentals. The next major resistance point will be at $26,514, which would represent a new all-time high for BTC/USD if breached. We may also see some consolidation near this level, but if the bulls manage to break through, we could see a surge toward $27,000 or even higher.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/729832c3c5084b2293c7c0c5af21f4a8.png" />BTC/USD 1-day price chart, source: <a href="https://www.tradingview.com/chart/YgGk5lSa/?symbol&#61;COINBASE%3ABTCUSD" rel="noopener noreferrer nofollow">TradingView</a></p><p>The relative strength index (RSI) is also on an upward trend as it is trading at index 67.86 near the overbought zone, indicating a higher buying ratio in the market. However, the RSI is still in the neutral zone. As the BTC price moved above the moving average (MA), the MA now trades at $200 below the price level complementing the bullish trend. The Moving average converges divergence (MACD) is on a bullish trend, with the red line crossing above the blue.</p><h2 id="header-1">Bitcoin price analysis: Recent developments and further technical indications</h2><p>The 4-hour chart for the Bitcoin price analysis is on a bullish trend and is trading at $26.010, with the bulls looking to push prices past the current level. For the past two weeks, bearish pressure ruled the market due to Silvergate bank, Silicon Valley Bank (SVB), and its parent company SVB  Financial Group (SFG) suspending its services to certain clients. However, the recent news of Silvergate providing access to institutional investors has bolstered investor confidence in the asset class, and Bitcoin price analysis shows that it is currently above $26,000.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/86c248f1d1d4431ead54b397f7abbcd3.png" />BTC/USD 4-hour price chart, source: <a href="https://www.tradingview.com/chart/YgGk5lSa/?symbol&#61;COINBASE%3ABTCUSD" rel="noopener noreferrer nofollow">TradingView</a></p><p>The RSI is also trading at index 80.86, near the overbought zone, indicating a higher buying ratio in the market. The MACD for BTC/USD indicates that it is on a bullish trend as the histogram is trading in the positive zone. The MACD line is also trading above the signal line, indicating that the bulls have taken control of the market. The 50-day MA is on an upward trend, and the 200-day MA is also trading above the price level. The four-hour moving average indicator is currently at $24,500.</p><h2 id="header-2">Bitcoin price analysis conclusion</h2><p>To sum up Bitcoin price analysis, the bullish trend is likely to continue as investors and traders take advantage of the strong fundamentals surrounding the asset class. The price action has been on an upward trajectory over the last 24 hours, and it looks set to reach new highs in the short term. The buying pressure is high as more investors enter the market, and there is a strong possibility that prices could reach $27,000 or beyond in the near future. The technical indicators are also on an upward trend, further confirming bullish sentiments.</p><p>While waiting for Bitcoin to move further, see our Price Predictions on <a href="https://www.cryptopolitan.com/xdc-price-prediction/?swcfpc&#61;1" rel="noopener noreferrer nofollow">XDC</a>, <a href="https://www.cryptopolitan.com/news/polkadot/?swcfpc&#61;1" rel="noopener noreferrer nofollow">Polkadot</a>, and <a href="https://www.cryptopolitan.com/cardano-price-prediction/?swcfpc&#61;1" rel="noopener noreferrer nofollow">Curve</a></p>

Bitcoin price analysis: BTC is up again as bullish momentum extends above $26,000

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Cryptopolitan_News

Інші статті, опубліковані 14 бер. 2023 р.

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