$BITSTAMP:BTCUSD
Bitcoin has dropped significantly during this period, and that's why I'm analyzing Bitcoin.
It gives a clearer view of the current situation and next predictions.
[b]Summary:[/b]
Current price: $103936.19
Change over 24 hours: -2.68%
Overall Trend: Neutral leaning down
[b]Trend Indicators:[/b]
RSI (Relative Strength Index): 46.80
It is not in overbought or oversold territory, which means the market has not yet determined its direction.
MACD:
MACD: 485.94
MACD Signal: 925.40
Histogram: -439.46 (negative), indicating bearish momentum.
There is a negative crossover for MACD below the signal line, which is a sell signal.
[b]Moving Averages:[/b]
EMA 10: $106420.51
EMA 20: $106120.66
EMA 50: $102933.88
EMA 100: $98631.55
The current price is below EMA 10 and 20, but above EMA 50 and 100, which indicates that there is a contradiction between the trends, neither fully bearish nor fully bullish.
[b]Bollinger Bands:[/b]
Upper Limit: $109869.94
Middle Line: $105776.00
Lower Limit: $101682.06
The price is currently below the middle line, which indicates a negative signal.
[b]Volatility Index (ATR):[/b]
ATR = 3078.40
This means that the market has clear volatility, and the movement is strong.
[b]Momentum Indicators:[/b]
Stoch %K: 35.13
Stoch %D: 50.05
They have not entered the overbought zone, which means the momentum is still continuing at the same pace without a clear reversal.
[b]Fibonacci Levels:[/b]
Fibo 23.6% = $103125.39 (near support)
Fibo 38.2% = $104815.07 (first resistance)
Fibo 50.0% = $106180.70
Fibo 61.8% = $107546.33
Fibo 78.6% = $109490.62
The nearest support currently is at $103125.39
And the nearest resistance is at $104815.07
[b]Next Predictions (Based on Data):[/b]
Overall Trend: Bullish in the short and medium term
Expected change percentage: +5.58% over the coming days
Volatility Level: Medium to High (ATR High)
[b]Possible Scenario:[/b]
Based on the technical situation and indicators, we might see strong fluctuations in the coming days.
There is a possibility that the negative pressure will continue a bit, but then there might be a bullish rebound towards the nearby resistances (especially 104815).
And if the predictions go as they are, Bitcoin may continue its ascent and break the resistances over time.
[b]General Recommendations:[/b]
For short-term traders: Be cautious, the market is volatile. Watch the resistance levels for selling and support for buying.
For long-term investors: The current drop could be an opportunity to enter or strengthen your positions, but do not forget to manage your risks.
