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tron
TRON (TRX) $ 0.05348
bitcoin
Bitcoin (BTC) $ 16,815.25
ethereum
Ethereum (ETH) $ 1,229.53
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 283.66
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.389618
binance-usd
Binance USD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.096268
cardano
Cardano (ADA) $ 0.31047
solana
Solana (SOL) $ 13.33
matic-network
Polygon (MATIC) $ 0.890303
polkadot
Polkadot (DOT) $ 5.29
tron
TRON (TRX) $ 0.05348
Thursday, December 8, 2022
HomeCoinsBitcoinCan the Bulls Push BTC Value to $17,000 in a Torpid Backdrop?

Can the Bulls Push BTC Value to $17,000 in a Torpid Backdrop?

  • BTC is buying and selling at $16,545.35 and is down by 1.12% within the final 24 hours.
  • Bitcoin set a 24-hour excessive of $16,709 and a low of $16,501.
  • Contracting Bollinger bands point out that the worth will transfer sideways.

Bitcoin is buying and selling at $16,545.35 with a 24-hour buying and selling quantity of $32,111,031,038, in response to CoinMarketCap, as of press time. Bitcoin dropped in value by 1.12% within the final 24 hours.

Notably, throughout the intraday buying and selling, BTC set a 24-hour excessive of $16,709 and a low of $16,501. Inside the final 24 hours, the worth of BTC has been fluctuating in a small vary and transferring sideways.

Furthermore, BTC may be very near the help degree 1 denoted within the chart, which is round $16,400. BTC will attempt to goal Resistance degree 1, which is round $17,000. Nonetheless, with the 50-day MA being positioned parallel to the horizontal, the bulls might have some extreme pressure to assist BTC attain Resistance 1.

However, if the bears dominate the market, then BTC can be seeking to land at Help 1 which is round $16,390. Nonetheless, if the bears take whole management then the worth of BTC can be concentrating on at Help degree 2.

Moreover, the Bollinger bands are contracting indicating that there might be much less volatility in costs and there might be extra motion sideways. The higher Bollinger band is at $16,697 whereas the decrease band is at $16,445. At press time the worth of BTC is touching the decrease band indicating a reversal in pattern.

Bitcoin to USD Chart 1-hour Chart on CoinMarketCap

At the moment, Bitcoin (BTC) has a circulating provide of 19,209,806 BTC and a most provide of 21,000,000 BTC cash.

See also  Lengthy-term Bitcoin holders stubbornly maintain on regardless of 33% holding losses

Disclaimer: The views and opinions, in addition to all the data shared on this value evaluation, are revealed in good religion. Readers should do their very own analysis and due diligence. Any motion taken by the reader is strictly at their very own danger. Coin Version and its associates is not going to be held answerable for any direct or oblique injury or loss.

BitcoinMasterNews

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