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What do the Long-Term Technicals Predict for Bitcoin (BTC) Tuesday?

Tuesday, February 27, 2024 09:33 AM | InvestorsObserver Analysts
What do the Long-Term Technicals Predict for Bitcoin (BTC) Tuesday?

InvestorsObserver gives Bitcoin a strong long-term technical score of 75 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the coin's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. BTC at this time has a superior long-term technical analysis score than 75% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover coins that have bottomed out.

Long-Term Technical - 75
InvestorsObserver is giving Bitcoin a 75 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 $13,305.6100000 (30.54%) above its 100-day moving average price of $43,571.200000000 as its price at the moment sits at $56,876.800000000. Additionally, BTC is $37,248.5500000 (289.71%) higher than its 52-week low price of $19,628.250000000 while -$410.20000000 (99.27%) under its 52-week high of $57,287.000000000. 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 75. Long-term trading movement of Bitcoin suggest that investors are neutral on the coin at the moment. Bitcoin has a total market value of $1,117,013,521,016.68 with an high average daily volume of $269,768,936,217.29 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 $55,012,796,297.83 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 75 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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