- Bitcoin has been taken into account in increasing modest prices by 1.15 % in the past 24 hours.
- The daily trading volume of the cryptocurrency showed a 5.68 % increase, according to CMC data.
This time, the weekend approaches led to a valve market in the digital assets sector. Bitcoin broke his resistance of $ 98,000 in the late Asian evening hours from February 20. The frenzy rose in the market, as community members began to celebrate the arrival of the alternative season. Senior analysts stated that this alternative season may be unique.
Meanwhile, I returned to the largest encrypted currency, decided to demand a highlight of the recent price movement. Although the motives are still unclear, BTC has been put in a 1.15 % price increase and is currently being traded at 98.2 thousand dollars. In the Asian morning hours, the cryptocurrency was traded at 96,805 dollars.
When the upholsqueous candles arose during the day, Bitcoin rose to the current price range. At the time of writing this report, Bitcoin was trading at $ 98,244, according to CMC Data. Such a price procedure in the past was raising the direction of purchase between investors. However, according to analyst reports, community members continued to distribute their BTC holdings.
The market analyst stated that although all of them are not distributed, investors are definitely not accumulating Bitcoin. This makes us wonder about the trading strategy and market movements. It also raises speculation about whether members of society have resorted to focusing on Altcoins and stopping BTC trading.
Will Bitcoin maintain positive momentum?
When analyzing the last price movements of Bitcoin, the price uniforms recently showed the W pattern. The W style was followed by a short versatile channel and the current horizontal canal style. This pattern indicates that bitcoin may witness either prices collapse or greater descent.
When drawing conclusions from other technical indicators, it was done via the MACD MacD line recently via the signal line. This reveals the next upward trend. Moreover, the RSI value of digital assets is 50.85, according to Tradingview Data Imagine neutral feelings.
On the other hand, other altcoins such as Aptos and Litecoin showed an upward momentum after it was pushed by Altseason.
The news of the encryption was highlighted today:
Kucoin is applying for a Micar license in Austria, expanding eyes in the European Union market
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