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Bitcoin Trading Near The $35k Mark; Moving Averages Show A “Strong Buy” Sentiment

By November 1, 20232 minute read

The current price of Bitcoin (BTC) is $34,461.81, with an almost 0.13% decrease in the last hour. There was an increase of 0.39% in its price in the last 24 hours. The 7-day Bitcoin was up by 1.50%.

Ethereum (ETH) is currently trading at $1,811.14, with an almost 0.01% decrease in the last hour. There has been a 0.61% increase in its price in the last 24 hours. The 7-day ETH has been up by 1.33%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 33600 and 27827, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 34181 and 28291, respectively. Exponential and Simple Moving Averages show a “Buy” sentiment.

The Ichimoku Base Line, valued at 30866, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 34686. The Volume Weighted Moving Average at 31687 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 80, with a sell indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 91 and 57, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1913 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 73 with a “Neutral” indicator, while the Williams Percent Range (14) at −10 signals “Sell.”

As of 09:30 AM, 01st November 2023, on WazirX, Bitcoin’s current price is ₹29,75,019, with an almost 0.5% increase in the last hour. There was a 0.13% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 1.19%.

Ethereum (ETH) is trading at ₹1,57,000, with an increase of 1.84% in the last hour. There was an increase of 1.85% in the last 24 hours. The 7-day ETH is up by 1.17%.

The top gainers on WazirX include Smooth Love Potion (SLP), SushiSwap (SUSHI), and Worldcoin (WLD), with price increases of 19.42%, 18.27%, and 12.17%, respectively.

However, the tokens that underperformed comprised Fetch.AI (FET), Band Protocol (BAND), and Pendle (PENDLE), with a price decrease of 30.43%, 11.62%, and 9.75%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.73% and is now priced at ₹0.000678. Dogecoin (DOGE) saw a decrease of 3.22% and is now priced at ₹5.8720.

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