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Bitcoin price dips, investors keen to buy the dip

By February 5, 20242 minute read

Bitcoin’s investor sentiment remains a mixed bag, with the Relative Strength Index at 50, indicating neutrality. The MACD Level at 36 signals a ‘Buy,’ while the Stochastic %K at 41 and the Average Directional Index at 13 point towards a neutral outlook.

The Exponential Moving Average for a 10-day EMA indicates “Buy” at 42518, and a 200-day EMA indicates “Buy” at 36251. The Simple Moving Average for a 10-day SMA indicates “Buy” at 42716, and a 200-day SMA indicates “Buy” at 34303.

The Ichimoku Base Line, valued at 43777, continues to be neutral. The Hull Moving Average indicates “Sell” at 43740. The Volume Weighted Average indicates “Buy” at 41653. 

The Relative Strength Index (14) sits at 50, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 41 and the Average Directional Index (14) at 13 indicate a Neutral outlook. 

The MACD Level (12, 26), at 36, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) at 77  indicates ‘Neutral’, and William’s Percentage at -27 indicates ‘Neutral’ as well.

As of 10:00 AM, 5th February 2024, on WazirX, Bitcoin’s price is ₹37,61,378, with a 0.47% increase in the last 24 hours. There was a 0.20% increase in its price over the last 7 days.

Ethereum (ETH) is trading at ₹2,01,113. There was a decrease of 1.32% in the last 24 hours. There was a 1.27% decrease in its price over the last 7 days.

The top gainers on Cortex(CTXC), Toko Token(TKO) and Dusk Network(DUSK) with a price increase of 12.8%, 10.51%, and 10.41%, respectively.

However, the tokens that underperformed comprised Fetch.AI(FET), Venus(XVS), Elrond Gold(EGLD) with price decreases of 11.08%, 10.42%, and 8.92%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.79% and is now priced at ₹0.000782. Dogecoin (DOGE) saw a decrease of 0.72% and is now priced at ₹6.90.

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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