Ten days ago we wrote that there weren’t any drastic Bitcoin price changes and at the time the cryptocurrency was trading for about $415 per coin. Today, we can safely say the exact same thing; however, this time the trading price of the Bitcoin is settled around the $420 mark, which can be considered as an improvement.
This monotonous up and down movement of the currency has been happening for quite some time now, but it’s good to see that on the long run the Bitcoin is gaining on value rather than losing its worth. Nonetheless, traders are still hoping to see the announced price jump for 2016 that was promised last year.
Bitcoin Fell Over the Weekend and Then Quickly Improved Again
It should be noted that over the weekend there weren’t any mention-worthy events related to the currency.
Possibly the most interesting article was a confession by a person who pre-ordered the fantastic Tesla Model 3 using Bitcoin. Also, some rumours emerged that the Australian exchange Igot was owning thousands of dollars to customers and clients as well as that the company was on the verge of collapse. Other than this, nothing too interesting happened, a thing that also can be said for the situation on the price chart.
Back to the chart, the current trading value per Bitcoin is $420.64. In the past 24 hours, however, the most commonly seen mark was $419; the highest price reached during that period was actually the current worth, since the second best price was hit yesterday night and was $420.54. The lowest value per coin, on the other hand, was considerably weaker $416.98.
We would like you to have in mind that over the weekend, more precisely on Saturday, the price fell under $415 and reached a low of $414.24. That wasn’t something expected and worried traders worldwide; nevertheless, the Bitcoin regained power to get back at the $420 threshold again on Sunday evening. This resulted with the overall price change in the past 24 hours to be 0.34%.
When it comes to the other segments, the market cap has fallen under $6.50 billion at $6.49 billion. The volume, however, has jumped in comparison to its Friday’s value. Thus, today we see it at $65,915,500, whereas three days ago it was $58,695,300. This small change in volume might signal a small price change in the foreseeable future.
Indicators Recommend Traders to Sell
We’ve already mentioned that the slight increase in volume may be a signal that the price is going to change. Well, if we combine that signal with the one send by the indicators, then we can conclude that its price will most probably fall. However, taken all numbers into account even if the value falls, it won’t move downwards dramatically, but only for a few points.
In terms of technical indicators and moving averages, the majority is pro-sell (five indicators and seven averages). There are, nonetheless, three indicators and five averages that are pro-buy as well as three neutral indicators. Therefore, it can’t be said that they all agree on the signal and that the price will most certainly fall.
When the numbers are like this, the situation usually can change in no time; hence, whatever action you take, you better think of an exit strategy first in case things don’t go as planned.