Is Bitcoin (BTC) Heading the Right Direction Wednesday?


Bitcoin receives a strong long-term technical score of 79 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 79% 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 - 79
InvestorsObserver is giving Bitcoin a 79 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

Trading Analysis

Bitcoin’s price is -$1,657.0900000 (-7.80%) below its 100-day moving average price of $21,231.540000000 as its price at the moment sits at $19,574.450000000. Additionally, BTC is $1,865.8300000 (110.47%) higher than its 52-week low price of $17,708.620000000 while -$49,215.17000000 (28.44%) under its 52-week high of $68,789.630000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives BTC a strong long-term technical score of 79. Long-term trading movement of Bitcoin suggest that investors are neutral on the coin at the moment.

Bitcoin has a total market value of $375,109,105,277.27 with an high average daily volume of $342,417,017,230.46 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, BTC’s volume is below its average with $53,713,594,532.86 exchanged in total.

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 79 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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