Is Bitcoin (BTC) Trending Lower or Higher Sunday?

Sunday, February 26, 2023 07:29 PM | InvestorsObserver Analysts

Bitcoin receives a strong long-term technical score of 69 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the coin's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. BTC currently holds a superior long-term technical analysis score than 69% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. coins with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Bitcoin a 69 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Bitcoin!

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Trading Analysis

BTC is currently $3,972.8400000 (20.34%) above its 100-day moving average price of $19,536.850000000 with its current price of $23,509.690000000. Meanwhile, Bitcoin is $7,910.6400000 (150.64%) above its 52-week low price of $15,599.050000000 and -$24,577.15000000 (48.87%) below its 52-week high of $48,086.840000000. The current price relative to its moving average and 52-week high and low leads to a strong long-term technical score of 69. Trends for the long-term trading history of Bitcoin suggest that traders are currently neutral on the coin. Bitcoin has a total market value of $453,802,360,625.44 with an high average daily volume of $107,759,523,305.75 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 $16,703,648,741.40 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

Trading patterns over the last year for Bitcoin leads to the coin's a strong long-term technical score of 69 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the coin. Click Here to get the full Report on Bitcoin (BTC).