Bitcoin Price Analysis 4th Feb 2022

Bitcoin, the largest cryptocurrency by market capitalization is trading at $36,813 at press time. The market cap of Bitcoin at press time is $697,533,284,447 as per CoinMarketCap data.

Currently, Bitcoin price is struggling hard to break the strong resistance of $39,000 USD. The 24h low and high of BTC are $36,375 and $37,656 respectively.

If we look at the technical indicators like moving averages and oscillators, then it’s indicating selling pressure. The Exponential Moving Average (10, 20, 30, 50, 100, 200) and Simple Moving Average (10, 20, 30, 50, 100, 200) both are indicating high selling pressure.

However, if we look at Oscillators like Relative Strength Index (14) which is 34.47 is in the neutral zone. The Stochastic RSI Fast (3, 3, 14, 14) and Ultimate Oscillator (7, 14, 28) both are in the neutral zone.

The dominance of Bitcoin is currently at 41.9% while that of Ethereum is 17.6% as per CoinMarketCap data. The BTC price is down by 1.86% in the last 24h while it’s up by 1.56% in the last 7 days.

The crypto fear and greed index is currently at 20 which is indicating extreme fear in the market.