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The cryptocurrency market is witnessing a rare upward spiral. Bitcoin [BTC], the largest cryptocurrency in the market has successfully reversed the downtrend to bullish. Cryptocurrency was facing its longest bear market, but managed to record growth as the market trend changed.
At the time of the press, the coin was valued at $ 3,984.59 with a market capitalization of $ 69.9 billion. The coin recorded a trade volume of $ 7 billion over 24 hours and rose 0.81% over the last day. The coin has grown 9.81% over the past week and continues to grow a whopping 0.06% over the past hour.
1 hour
Source: TradingView
According to the one-hour chart for cryptocurrency, BTC has seen a strong upward trend from $ 3,678.8 to $ 4002.4. The coin dipped and noted a tiny downward trend from $ 4,064.1 to $ 4,025.6. The coin sparked resistance at $ 4,064, while support was noted at $ 3,989.
Bollinger Groups appear to be divergent, suggesting increasing market volatility. The moving average line is under candles marking a bull market.
Awesome Oscillator mark a bull market is gaining ground.
Chaikin flow also indicates a bull market since the marker is above zero.
One day
Source: TradingView
The daily chart of the coin marks a downward trend from $ 6,184.99 to $ 3,460, while another downward trend has gone from $ 6,459.1 to $ 4,055. BTC has trended upwards of 3,300.1 to $ 3,676.4. The coin showed resistance at $ 4,168.4, while support stood at $ 3,438.4.
Parabolic SAR indicates a bull market as the markers lined up under the candlesticks.
relative strength index indicates that buying and selling pressures have eased.
MACD align ourselves with the signal line marking an uptrend.
Conclusion
According to the hour and one-day chart indicators, a bullish trend is forecast for Bitcoin, [BTC].
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