Bitcoin was [BTC] was back in action. The king coin had finally crossed $55K. Earlier today, Bitcoin came close to its recently achieved all-time high. The asset scored a seven-day high of $58,091.06, however, during the time of writing, the king coin had retraced to a low of $55,480. BTC had scored gains of up to 16.90% in the last seven days, which helped the asset move over $50K. The dominance of the king coin surged with its price. At press time, BTC was dominating the scene by 61.1%. Additionally, the market cap of the king coin was noted at $1.04 trillion.
All the other coins were seen following a similar trend.
Bitcoin [BTC] One-Hour Price Chart On Binance
The short-term price chart of BTC had the bears residing in its market. The Parabolic SAR indicator was over the candlesticks which acted as a line of resistance. This further negated the chances of an upward breakout. The MACD line had slumped below the signal line further stopping the bears from entering the BTC market.
The Relative Strength Index indicator was down below the 50 median which affirmed that a sellers’ sentiment was noted in the market.
Bitcoin [BTC] One-Day Price Chart On Binance
The one-day price chart of BTC announced the presence of bulls. The Bollinger Bands indicator was diverging which further affirmed that the king coin could be heading in for an increase in volatility. The Awesome Oscillator revealed that this was for the best considering the green closing bars it went on to form.
The Money Flow Index indicator suggested a buyers’ sentiment as its marker was over 50 median.
While the short-term chart suggested that BTC could come face to face with the bears, the one-day chart, however, restored hope in the market by harboring the bulls in the BTC market. The prolongation of this trend could even push the asset over $60K.