Is Bitcoin (BTC) Heading the Right Direction Friday?


Bitcoin receives a strong long-term technical score of 67 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the coin’s consistency, volatility, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.

Currently, BTC holds a superior long-term technical analysis score than 67% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover coins that have bottomed out.

Long-Term Technical - 67
InvestorsObserver is giving Bitcoin a 67 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

Trading Analysis

The current trading price of $18,925.770000000 for BTC is -$2,397.6600000 (-11.24%) below the coins 100-day moving average of $21,323.420000000. BTC meanwhile is $1,217.1400000 (106.81%) above its 52-week low of $17,708.620000000 and -$49,863.86000000 (27.50%) under its 52-week high price of $68,789.630000000. Bitcoin’s current price relative to the coins long-term average and 52-week high and low, gives the crypto a strong long-term technical score of 67. The price movement and range of BTC suggest that investors are neutral on the coin at this time.

Bitcoin currently has a total market cap of $362,592,749,885.36 to go along with its average daily volume of $298,557,099,473.09 worth of the currency over the past seven days. BTC’s volume is below its seven day average as of the past 24 hours, with 37,930,453,597.04 exchanged in that period.

This coin’s subclass Digital Money: Digital Money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it may be used the same way fiat currencies are used.

Summary

Technical analysis of Bitcoin over the past year results in the crypto receiving a a strong long-term technical score of 67 as its price movement in that time has given traders reason to be neutral on the coin in the long-term.

Click Here to get the full Report on Bitcoin (BTC).

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