Connect with us

Cryptocurrency News

Bitcoin Price Analysis 4th Feb 2022




Bitcoin, the largest cryptocurrency by market capitalization is trading at $36,813 at press time. The market cap of Bitcoin at press time is $697,533,284,447 as per CoinMarketCap data.

Currently, Bitcoin price is struggling hard to break the strong resistance of $39,000 USD. The 24h low and high of BTC are $36,375 and $37,656 respectively.

If we look at the technical indicators like moving averages and oscillators, then it’s indicating selling pressure. The Exponential Moving Average (10, 20, 30, 50, 100, 200) and Simple Moving Average (10, 20, 30, 50, 100, 200) both are indicating high selling pressure.

Bitcoin moving averages and oscillators

However, if we look at Oscillators like Relative Strength Index (14) which is 34.47 is in the neutral zone. The Stochastic RSI Fast (3, 3, 14, 14) and Ultimate Oscillator (7, 14, 28) both are in the neutral zone.

The dominance of Bitcoin is currently at 41.9% while that of Ethereum is 17.6% as per CoinMarketCap data. The BTC price is down by 1.86% in the last 24h while it’s up by 1.56% in the last 7 days.

The crypto fear and greed index is currently at 20 which is indicating extreme fear in the market.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.