Bitcoin remains strong under resistance, igniting a bullish sentiment from the community who view the dip as a perfect buying opportunity.
Let’s take a look at all the latest metrics you need to inform your crypto trading. If you’re new to the world of crypto trading, take a look through our beginner’s guide to crypto trading series, starring in-depth explorations of common strategies, market analysis techniques, and more.
The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 11:00am SAST.
We closed yesterday, 23 September, 2020, at a price of $10,225.86 – with a daily high of $10,637.85 and a low of $10,185.77.
That’s down from a closing price of $10,538.46 the day before. On the same day last year, one bitcoin would have set you back $9,729.32.
We’re 50.90% below bitcoin‘s all-time high of $20,089 (17 December 2017).
As of today, buying bitcoin has been profitable for...
91.7% of all days since 2013-04-28.
The volume traded yesterday was $22,986,733,997 – down from $23,621,787,804 the day before.
Bitcoin’s market capitalisation as of yesterday was $189,159,114,865, down from $194,932,197,947 the day before. To put that into context, Jeff Bezos is now worth $175 billion. This means he can only afford to buy 92.51% of all bitcoin. Better luck next time, Jeff.
Fear and Greed Index
Sentiment has remained in the fear zone at 39, down from 43 seen yesterday.
Extreme fear can be a sign that investors are too worried, which could be a buying opportunity. When Investors are getting too greedy, that means the market may be due for a correction.
Global In/Out of the money
For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it with the current price. If the current price is higher than average cost, address is ‘In the Money’. If the current price is lower than the average cost, the address is ‘Out of the Money’.
Annualised price volatility using 365 days.
Bitcoin’s market dominance
Bitcoin's market dominance stands at 61.94. Its lowest recorded dominance was 37.09 on 8 January, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 41.67. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Resistance and support
What they said yesterday…
The lower the price of #bitcoin goes, the more you can acquire.
This is bullish!
— PierreRochard.com (@pierre_rochard) September 23, 2020
I’ll keep buying Bitcoin until @PeterSchiff says to buy it.
— Dan Held (@danheld) September 23, 2020
How long until it’s too late to mine 6.25 BTC in a single block reward? This clock is counting down.
Love the new Bitcoin halving clock in Union Square, NYC! pic.twitter.com/pEvqd1axzf
— Michael Goldstein (@bitstein) September 23, 2020
What other data points would you like to see covered in our Daily Report? Let us know on Twitter.