AtlantisFX | The cryptocurrency Bitcoin (BTC / USD) rose sharply on Wednesday.
The digital currency last cost $ 12,527.0, an increase of 8.46 percent over the last 24 trading hours. Over the past 52 weeks, the cyber-devise has ranged from $ 3,216.1 to $ 13,764
The following article deals with the technical analysis. The technical analysis, also called chart analysis, tries to determine attractive buying or selling times from the price history of the underlying - in this case for the crypto currency Bitcoin (BTC / USD).
In this chart analysis, Investing.com editors rate both the 5-hour and the daily charts of the Bitcoin cryptocurrency using moving averages and technical indicators. These results ultimately provide an overall technical rating for the digital currency.
Bitcoin (BTC / USD) on the 5-hour chart
Moving averages: Moving averages smooth the course and make it easier to see the higher trend direction in the respective time window.
With regard to the cryptocurrency Bitcoin (BTC / USD), 12 moving averages are "buy" and 0 are "sell". This gives the digital currency the rating "buy".
Technical indicators: Technical indicators focus on the analysis of historical price data using mathematical formulas and not on fundamental conditions. Technical indicators are used by profes- sional traders to forecast short-term price movements in order to determine buy or sell times. Examples of common technical indicators are Relative Strength Index, Stochastic, MACD, ATR, ADX, CCI, ROC Bulls / Bear.
Of the 10 technical indicators analyzed, 10 indicate Buy, 0 Neutral, and 0 Sell. Accordingly, the editors of Investing.com determined a "strong buy" rating.
By analyzing the moving averages and the technical indicators Investing.com comes in the 5-Stundenchart on a total result of "buying hard".
Bitcoin (BTC / USD) on the daily chart
On the daily chart, 12 moving averages point to Buy and 0 to Sell. This gives the token a rating of "buy".
Of the 7 technical indicators analyzed, 6 indicate "Buy", 1 "Neutral", 0 "Sell". From this a rating of "strong buy" can be derived.
By analyzing the moving averages and the technical indicators Investing.com comes in the daily chart on a total result of "buying hard".
Conclusion
Investing.com's multi-stage analytics process resulted in a composite cumulative cryptocurrency (BTC / USD) of Strong Buy.
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