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Bitcoin technical indicators until July 20, 2022

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  Bitcoin

Here are the technical indicators of Bitcoin that show the possibility of its next price. Bitcoin is trading at $23,657.10, up 7.28% in the last 24 hours. It has a market cap of 454,118,246,862 with a trading volume of $50,849,806,730.

Relative Strength Index (RSI)

The relative strength indicator is a momentum indicator that shows whether a coin is trading in an oversold or overbought region using its 14-day moving average. Oversold and overbought areas indicate an imminent price reversal/correction.

Bitcoin’s Relative Strength Index is neutral, indicating that it is neither trading in oversold nor overbought territory.

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Interchange netflow, inflow and outflow

Input is the number of coins entering an exchange, while output is the number of coins leaving an exchange. The net flow is the difference between the inflow and outflow.

Netflow = Inflow – Outflow

The net one-day Bitcoin flow on exchanges is at -3687.65 with an inflow of 30147.97 and an outflow of 33835.62. Netflow suggests increased buying pressure in cash exchanges and lower volatility in derivatives exchanges.

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simple moving average (SMA)

A simple moving average is the average closing price of an asset over a given period.

Bitcoin is trading at $23,657.10, which is below the 200-day simple moving average, indicating bullish price movement.

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open interest (OI)

Open interest is the number of open positions (long and short) currently in trading pairs.

Bitcoin open interest is increasing, which means traders are opening trading positions. This movement provides liquidity, volatility and attention and supports the current price trend.

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Longs vs. Shorts

The Long/Short ratio compares the exchange’s active buying and selling volume and reflects the sentiment of the Bitcoin market.

Bitcoin’s long/short ratio is 1.11%, which indicates a positive market sentiment.

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