In recent trading, the price of Bitcoin fell below its 4-hour moving average, leaving some investors concerned about the potential for a bearish trend in the near future.

Quick Summary:

However, there could be more support and resistance levels created if the price continues to move downward.4-Hour Moving Average: A technical observation of the chart from the 4-hour timeframe as seen in the image below reveals that the price is trending below the 100-day moving average.

This suggests that the price is on a downtrend and could potentially move further downward.4-Hour RSI indicator: The Relative Strength Index (RSI) indicator here suggests a downward trend as the RSI signal has crossed and is trending below the 50% line as observed on the above chart.

The MACD indicator from the 4-hour chart also suggests that the price might continue to move downward as the MACD histograms are trending below the zero line.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United Kingdom

Topics: BTCUSDT Btcusd MACD Bitcoin Simple Moving Average RSI SMA Btc Relative Strength Index Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-27 @ 13:30:38 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 391 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 20802362

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 7 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 11 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions