Bitcoin Price and Technical Analysis- Will Bitcoin Hit Above $5,000?

Bitcoin prices are looking bullish as the prices are rising since November 29. The 24-hour change shows an almost 2% increase in Bitcoin’s prices.

Current price: $4300

Market Cap: $74.82 billion

Trade Volume: $6.18 billion

Bitcoin Price Analysis Report for 1 Day

Uptrend

The uptrend is forming but will take time to materialize completely

Downtrend

The downtrend for Bitcoin in the one-day timeframe for Bitcoin ranges from $9799 to $4225.

Support

Bitcoin prices are supported at $3730 which is quite higher than the earlier supports.

Resistance

The resistance points for Bitcoin can be seen starting from $7359, $8390 to $9799. The rest of the chart shows nothing but brutal dips by Bitcoin.

Indicators That Affect The Price Of Bitcoin

MACD

The MACD seems to get off the bearish crossover ride as the MACD and the signal line have touched each other and are on the verge of a possible crossover.

Awesome Oscillator

The Awesome Oscillator shows bars hanging below the zero line which means that the momentum is decreasing.

Bitcoin Price Analysis Report for 1 Hour

Uptrend

The prices have finally moved up causing an uptrend that extends from $3845 to $4205.

Downtrend

The downtrend for Bitcoin seems strong and it ranges from $5495 to $3799, in one length without any breakups.

Support

The prices for Bitcoin have taken off from the support at $3605 in what seems to be a bull-run.

Resistance

Initial resistance can be seen set up at $4345, a post which the resistance point can be seen at $4749 and $5544.

Indicators That Affect The Price Of Bitcoin

Parabolic SAR

The Parabolic SAR dots are showing a bearish trend in the one-hour time frame as the parabolic dots have formed above the candles, which is a bearish indication.