BTC/USD is currently trading at $39,024.07, down 0.58 percent on the day. With a 30 percent decline, the world’s largest and most recognized currency had a 24-hour trading volume of $25,591,014,322.26.
On the daily chart, Bitcoin (BTC) is looking to create a base after falling nearly 65 percent from November’s record highs of $69,000, with the hopes of gaining another 26 percent from current levels.
BTC bulls can rely on the ascending trend line from the lows of $32,933.33 as reliable support. After hitting swing highs of $45,855, BTC has retraced about 35 dollars. It is currently trading near $34,322, indicating that bulls are making a comeback and could push the price higher.
BTC, on the other hand, remains below the critical 50-day and 200-day EMAs (Exponential Moving Averages), which are currently at $41,529 and $45,847.64, respectively. In addition, if the session’s bottom is not held, the bullish sloping line at $36,220 may be tested.
On Saturday, the price of Bitcoin (BTC) is somewhat lower. The price began lower, but swiftly reversed course and, after six days, reached the day’s high of $40,300. The surge, however, was short-lived, as BTC retraced back to $39,000. As a result, the price is going sideways with no discernible price movement.
Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…
