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Bitcoin Is Trading Around The $27k Mark; October’s Sideways Movement Offers Long-term Investment Opportunities.

By October 5, 20232 minute read

The current price of Bitcoin (BTC) is $27,694.35, with an almost 0.06% decrease in the last hour. There was an increase of 0.94% in its price in the last 24 hours. The 7-day Bitcoin was up by 5.09%.

Ethereum (ETH) is currently trading at $1,645.25, with an almost 0.06% decrease in the last hour. There has been a 0.10% increase in its price in the last 24 hours. The 7-day ETH has been up by 2.61%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 27305 and 26988, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” and “Sell” at 27188 and 28039, respectively. Exponential moving averages show a “Buy” sentiment.

The Ichimoku Base Line, valued at 26756, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 27835. The Volume Weighted Moving Average at 26976 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 60, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 63 and 22, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 289 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 69 with a “Neutral” indicator, while the Williams Percent Range (14) at −35 signals “Neutral.”

As of 09:00 AM, 05th October 2023, on WazirX, Bitcoin’s current price is ₹23,40,493, with an almost 0.65% increase in the last hour. There was a 0.63% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 3.76%.

Ethereum (ETH) is trading at ₹1,41,488, with an increase of 1.05% in the last hour. There was an increase of 0.07% in the last 24 hours. The 7-day ETH is down by 3.08%.

The top gainers on WazirX include Standard Tokenization Protocol (STPT), Pundi X (PUNDIX), and QuickSwap (QUICK), with price increases of 24.17%, 18.95%, and 17.99%, respectively.

However, the tokens that underperformed comprised Tomochain (TOMO), Frontier (FRONT), and Hedera Hashgraph (HBAR), with a price decrease of 9.52%, 8.97%, and 7.75%, respectively.

Shiba Inu (SHIB) saw a price increase of 0.64% and is now priced at ₹0.000624. Dogecoin (DOGE) saw a decrease of 0.02% and is now priced at ₹5.2290.

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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