BTC Price Consolidates Above $21.7K for Potential Gain

Bitcoin Is Ranged As It Consolidates Above $21.7K For Potential Gain – Feb 12, 2023

Over the past 48 hours, BTC price has been holding steady above the $21,700 support for potential gain. Doji is the name given to small unresolved candlestick shapes. These candlesticks show a lack of consensus between buyers and sellers about the direction of the market. Right now, Bitcoin is anchored between the moving average lines.

Bitcoin Price Stats Data:
•Bitcoin price now – $21,863.50
• Bitcoin Market Cap: $421,597,168,377
•Bitcoin circulating supply – 19,289,287 BTC
•Total Bitcoin Supply – $458,990,029,929
• Bitcoin Coinmarketcap Ranking – #1

Resistance levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

The largest cryptocurrency is trading moderately as selling pressure reaches bearish exhaustion. Bitcoin is currently confined between the moving average lines. It follows that Bitcoin will have to move in a range between the moving average lines. The crypto’s upward move is contingent on breaking the 21-day SMA line. If Bitcoin breaks the $23,000 barrier or the 21-day SMA, the uptrend will resume. Similarly, if the price pulls back below the 50-day SMA, the decline will restart. The Bitcoin price will fall and will eventually cross the psychological price threshold of $20,000. Above the current support, Bitcoin is currently range bound. The 47 level of the Relative Strength Index for period 14 held steady the day before.

A flaw in the Bitcoin logo in the original artwork after 12 years

Zooming in on the original Bitcoin logo reveals a small orange line from the bottom into white space, despite proclamations by Bitcoin users that investors should “stay away” during bad cryptocurrency markets. . While Satoshi Nakamoto is recognized as the anonymous architect of Bitcoin (BTC), it is often overlooked how the miners, developers, designers, holders, and investors in the community selflessly contributed to the realization of the original idea. However, one of those important contributions was found to have a flaw that was imperceptible to the naked eye for more than 12 years.

Bitcoin is currently trading low after its recent slide for potential gain. The crypto asset has been trading in a tight range between $21,500 and $22,000 since February 10. The future direction of the market is uncertain among traders. As a result, Doji candles have formed, indicating that the cryptocurrency may move in a range.

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