Bitcoin (BTC) analysis shows positive performance with notable price fluctuations. Here’s an overview of the currency's performance ¹ ²:
- *Current Price*: The price of Bitcoin is approximately $118,042.53, with an increase of 0.03% from the previous price.
- *Market Capitalization*: The market capitalization of Bitcoin is approximately $2.34 trillion, making it one of the largest cryptocurrencies in the market.
- *Trading Volume*: The daily trading volume of Bitcoin is approximately $47.06 billion.
- *Technical Analysis*: The technical analysis of Bitcoin on the 4-hour frame shows a bearish trend, with a possibility of continued decline to test the next support level at $97,715. However, if prices manage to break the descending trend line and stay above it, we may witness a gradual rise towards the following targets: $105,571 and $107,411.
*Support and Resistance Levels*:
- *Resistance Level*: The current resistance level is at $118,000, which may impact price movement in the coming days.
- *Support Level*: The current support level is at $116,900, which may provide support for the price in case of a decline.