Bitcoin surged to $30000, a 10 month high since June 2022. The RSI has been close to 70 which suggests an upward movement. The moving averages of BTC also suggest a strong buy sentiment based on price movements of the last 7 days.
With the collapse of banks, some experts have predicted that the Feb might have to evaluate the high interest rates which is possibly contributing to the current positive sentiment towards Bitcoin.
Crypto related stocks also saw an increase in prices following BTC’s rally.
The Exponential Moving Average for 10-day EMA and 200-day EMA indicates “Buy” at 28673 and 23291 respectively. The Simple Moving Average for 10-day and 200-day SMA indicates a “Buy” at 28449 and 20840.
The Ichimoku Base Line, valued at 27696, continues to be neutral. The Hull Moving Average indicates “Buy” at 29427. The Volume Weighted Moving Average indicates “Buy” at 28138
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 71, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 85 and 36 respectively.
The MACD Level (12, 26), at 946, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) continues to be “Neutral”at 83 and the William’s Percentage indicates “Sell” at -8.
As of 10:00 AM, 11th April 2023 on WazirX, Bitcoin’s price is ₹25,66,705, with almost 0.71% decrease in the last hour. There was a 1.74% increase in its price in the last 24 hours. The 7 day BTC is up 4.30%
Ethereum (ETH) is trading at ₹1,65,650, with an increase of 0.71% in the last 24 hours. The 7 day ETH is up 1.87%.
The top gainers on WazirX include Stacks (STX), Cocos-BCX (COCOS), and Bakery Token (BAKE), with a price increase of 10.49%, 9.16%, and 8.78%, respectively.
However, the tokens that underperformed comprised Venus (XVS), Icon (ICX), and NKN (NKN), with a price decrease of 13.31%, 6.03%, and 4.2%, respectively.
Shiba Inu (SHIB) saw a price increase of 1.47% and is now priced at ₹0.000964. Dogecoin (DOGE) saw an increase of 0.41% and is now priced at ₹7.30.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
