Bitcoin: USD/BTC (BTC=X) price stumbles as its average transaction size and fee fall too
Bitcoin is down about 0.3% from the previous day, putting its price at $10,341.21 US dollars at the time of this writing. The down day for Bitcoin yesterday was a reversal from the day before it. Price now stands at 1.77% above its 20-day moving average, and over the past two weeks, the price has been in an unclear trend.
On the flip side, for those who prefer a rangebound view when trading, Bitcoin’s trading range — based on its momentum and volatility over the past two weeks — is between $9,542.72 and $10,780.42 (in US dollars). In terms of its overall importance in the cryptocurrency market, Bitcoin’s current market capitalization is $185.35 billion US dollars, which is about 69.44% of the market capitalization of all cryptocurrencies.
Bitcoin’s dominance level has been without a clear trend over the past two weeks, fluctuating between 68.95% and 70.84%. Without a clear trend in dominance, the jury is still up for grabs as to whether or not Bitcoin will be the only cryptocurrency that succeeds.
Overall, the bias in prices is: Sideways.
The projected upper bound is: 11,220.10.
The projected lower bound is: 9,412.53.
The projected closing price is: 10,316.31.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.8923. This is not an overbought or oversold reading. The last signal was a buy 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.01. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 81 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -28. This is not a topping or bottoming area. The last signal was a sell 10 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 13 period(s) ago.
Rex Takasugi – TD Profile
FOREX BTC= closed down -149.610 at 10,300.390. Volume was 62% below average (consolidating) and Bollinger Bands were 49% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 10,295.41 10,460.17 8,032.73
Volatility: 27 55 78
Volume: 73,854 83,151 82,580
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX BTC= is currently 28.2% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 1 periods.