Based on the provided market data, the current price of Bitcoin (BTC) is $36,095. The Relative Strength Index (RSI) for 4 hours, 1 day and 7 days are 50.06, 68.12 and 74.52 respectively. RSI value above 70 usually indicates that the market is overbought and may be primed for a trend reversal or experience correction, so BTC is nearing that condition on the 1 day and 7 days charts.
The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day and 7 days are -221.37, 1475.98 and 2014.21 respectively. The negative MACD on the 4-hour chart suggests the market is bearish in the short term, while positive MACD on the 1 day and 7 days charts indicates bullish in the longer term.
The Bollinger Bands (Bb) for 4 hours, 1 day and 7 days are 37836.0, 37582.0 and 36840.0 respectively. The price is currently below the upper band in all three periods, indicating it's not overbought.
The supports for 4 hours are $35,380, $34,128, and $33,355, while the resistances are at $37,960, $38,936 and $40,000. For the 1 day period, the supports are at $33,400, $32,158 and $30,000, with resistances at $38,000, $42,880 and $40,500. For the 7 days period, the supports are at $29,630, $25,177 and $22,860, with resistances at $40,500, $44,800 and $48,000.
In conclusion, the market data suggests a mixed signal with short term bearish and long term bullish trends. The market is nearing overbought conditions which could lead to a price correction. Traders should exercise caution and consider their risk tolerance and investment objectives before making a decision.
The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day and 7 days are -221.37, 1475.98 and 2014.21 respectively. The negative MACD on the 4-hour chart suggests the market is bearish in the short term, while positive MACD on the 1 day and 7 days charts indicates bullish in the longer term.
The Bollinger Bands (Bb) for 4 hours, 1 day and 7 days are 37836.0, 37582.0 and 36840.0 respectively. The price is currently below the upper band in all three periods, indicating it's not overbought.
The supports for 4 hours are $35,380, $34,128, and $33,355, while the resistances are at $37,960, $38,936 and $40,000. For the 1 day period, the supports are at $33,400, $32,158 and $30,000, with resistances at $38,000, $42,880 and $40,500. For the 7 days period, the supports are at $29,630, $25,177 and $22,860, with resistances at $40,500, $44,800 and $48,000.
In conclusion, the market data suggests a mixed signal with short term bearish and long term bullish trends. The market is nearing overbought conditions which could lead to a price correction. Traders should exercise caution and consider their risk tolerance and investment objectives before making a decision.