Here are the Bitcoin technical indicators that suggest its probable next price action. Bitcoin is trading at $23,657.10, up 7.28% in the last 24 hours. It has a market capitalization of 454,118,246,862 with a trading volume of $50,849,806,730.
Relative Strength Index (RSI)
The Relative Strength Index is a momentum indicator that shows whether a coin is trading in an oversold or overbought territory using the 14-day moving average. Oversold and overbought territories signal an imminent price reversal/correction.
The Bitcoin Relative Strength Index stands neutral, showing it’s neither trading at oversold nor overbought territory.
Exchange Netflow, inflow, and outflow
Inflow is the number of coins entering an exchange, while outflow is the number of coins leaving an exchange. Netflow is the difference between inflow and outflow.
Netflow= Inflow – Outflow
The 1 day Bitcoin Netflow on exchanges stands at -3,687.65 with an inflow of 30,147.97 and outflow of 33,835.62. The Netflow suggests increasing buying pressure on spot exchanges and low volatility on derivatives exchanges.