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Bitcoin Is Trading Above The $27k Mark, With Moving Averages Showing A “Strong Buy” Sentiment

By September 20, 20232 minute read

The current price of Bitcoin (BTC) is $27,169.71, with an almost 0.30% decrease in the last hour. There was an increase of 1.36% in its price in the last 24 hours. The 7-day Bitcoin was up by 5.10%.

Ethereum (ETH) is currently trading at $1,639.24, with an almost 0.25% decrease in the last hour. There has been a 0.20% increase in its price in the last 24 hours. The 7-day ETH has been up by 3.19%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 26639 and 26992, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” and “Sell” at 26465 and 27784, respectively. Simple moving averages show a mixture of “Buy” and “Sell” sentiments.

The Ichimoku Base Line, valued at 26531, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 27160. The Volume Weighted Moving Average at 26146 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 59, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 84 and 17, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 7 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 100 with a “Neutral” indicator, while the Williams Percent Range (14) at −11 signals “Sell.”

As of 09:00 AM, 20th September 2023, on WazirX, Bitcoin’s current price is ₹23,45,866, with an almost 2.07% increase in the last hour. There was a 1.31% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 3.34%.

Ethereum (ETH) is trading at ₹1,40,116, with a decrease of 1.32% in the last hour. There was a decrease of 1.26% in the last 24 hours. The 7-day ETH is down by 0.23%.

The top gainers on WazirX include Bluezelle (BLZ), Standard Tokenization Protocol (STPT), and Frontier (FRONT), with price increases of 19.2%, 17.5%, and 16.82%, respectively.

However, the tokens that underperformed comprised TomoChain (TOMO), Venus (XVS), and Dash (DASH), with a price decrease of 6.66%, 6.6%, and 5.83%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.1% and is now priced at ₹0.000639. Dogecoin (DOGE) saw a decrease of 0.96% and is now priced at ₹5.3621.

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.
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