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BTC Continues To Stay Below The $26k Mark; Moving Averages Indicate A “Strong Sell” Sentiment

By September 6, 20232 minute read

The current price of Bitcoin (BTC) is $25,837.56, with an almost 0.18% increase in the last hour. There was an increase of 0.82% in its price in the last 24 hours. The 7-day Bitcoin was down by 5.62%.

Ethereum (ETH) is currently trading at $1,637.48, with an almost 0.29% increase in the last hour. There has been a 1.50% increase in its price in the last 24 hours. The 7-day ETH has been down by 4.59%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Sell” sentiment at 26071 and 27091, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate “Sell” at 26213 and 27592, respectively. Simple moving averages show strong “Sell” sentiments.

The Ichimoku Base Line, valued at 27496, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 25665. The Volume Weighted Moving Average at 26384 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 37, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 17 and 25, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -629 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 45 with a “Neutral” indicator, while the Williams Percent Range (14) at −82 signals “Neutral.”

As of 09:00 AM, 06th September 2023, on WazirX, Bitcoin’s current price is ₹22,60,000, with an almost 0.62% decrease in the last hour. There was a 0.44% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 2.11%.

Ethereum (ETH) is trading at ₹1,42,922, with an increase of 0.29% in the last hour. There was a decrease of 0.20% in the last 24 hours. The 7-day ETH is down by 0.41%.

The top gainers on WazirX include DODO (DODO), Balancer (BAL), and Enjin (ENJ), with price increases of 20.78%, 13.88%, and 13.75%, respectively.

However, the tokens that underperformed comprised Loom Network (LOOM), Render Network (RNDR), and DigiByte (DGB)with a price decrease of 10.29%, 9.6%, and 7.57%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.64% and is now priced at ₹0.000677. Dogecoin (DOGE) saw an increase of 0.74% and is now priced at ₹5.5504.

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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