What does the long-term technical data predict for Bitcoin (BTC) on Saturday?

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Saturday, October 8, 2022 5:54 PM | InvestorsObserver Analysts

InvestorsObserver gives Bitcoin a long-term average technical score of 60 from his research. The proprietary scoring system takes into account historical trading patterns over the last few months to a year of support and resistance levels for the currency, as well as where it stands relative to long-term averages. The analysis helps determine if it is currently a good buy-and-hold investment opportunity for traders. BTC right now has a long-term technical analysis score above 60% of cryptopos in circulation. The long-term classification will be more relevant to buy-and-hold investors looking for strong, consistent growth when allocating their assets. The combination of a high long-term and short-term technical score will also help portfolio managers uncover bottomed coins.

Long Term Technician - 60
InvestorsObserver is giving Bitcoin a long-term technical range of 60. Find out what this means for you and get the rest of the rankings on Bitcoin!

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The current trading price of $19,327.900000000 for BTC is -$1,791.7300000 (-8.48%) below the 100-day coin moving average of $21,119.630000000. Meanwhile, BTC is $1,619.2800000 (109.08%) above its 52-week low of $17,708.620000000 and -$49,461.72000000 (28.08%) below its 52-week price high of $68,789.630000000. Bitcoin’s current price relative to the coins’ long-term average and 52-week highs and lows gives the crypto a long-term average technical score of 60. BTC’s price movement and range suggest that investors are neutral on the currency at the moment. . Bitcoin has a total market value of $370,582,767,772.48 with a high average daily volume of $260,546,217,966.71 worth of currency traded over a typical 24-hour period. In the last 24 hours, BTC volume is below average with $15,764,838,210.95 traded in total. The subclass of this currency Digital money: Digital money is an asset, commodity, or currency intended to maintain value and liquidity over time so that it can be used in the same way that fiat currencies are used.

Summary

Technical analysis of Bitcoin over the past year results in the crypto receiving a long-term average technical score of 60, as its price movement over that time has given traders reason to be neutral on the coin long-term. . Click here for the full Bitcoin (BTC) report.

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