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Bitcoin Price Rises 2.35% in 24 Hours

The price of Bitcoin (BTC) has increased 2.35% over the last 24 hours and is currently trading at $16,942.91.

Bitcoin Logo
Bitcoin Logo

It is also second on CoinMarketCap's trending list, behind Solana (SOL) and above Shiba Inu (SHIB).

BTC Trading Volume Drops as Weekend Approaches

Total trading volume for BTC over the last 24 hours is down 2.67% at $13,650,132,963. The daily relative strength index (RSI) suggests that the price may have peaked in its latest move and could consolidate or drop down to the 20-day exponential moving average (EMA) line. The daily RSI is sloped negatively towards the oversold territory but positioned above the daily RSI simple moving average (SMA) line. This suggests that any price drop from the current level may be insignificant.

BTC Price Looks to Break Above 50-Day EMA Line

BTC's price has broken above the 20-day EMA line and is now attempting to do the same with the 50-day EMA line. If it can maintain its position above the 20-day EMA line at the close of today's trading session, the bearish thesis will be invalidated, and the price will aim for the $17,210.05 resistance level.