WBTC BTC Wrapped Bitcoin Technical Analysis

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By Frans van Elst

Wrapped Bitcoin logo In this Wrapped Bitcoin technical analysis, we will examine the current price action, trading volume, key levels and indicators for WBTC-BTC. Wrapped Bitcoin (WBTC) is a decentralized cryptocurrency that represents bitcoin on the Ethereum blockchain. It allows users to benefit from the advantages of both platforms, such as the security of Bitcoin and the smart contract functionality of Ethereum. With WBTC, users can easily transfer bitcoin between the two networks, creating new opportunities for decentralized finance (DeFi) applications.

Wrapped Bitcoin Price Overview:

As of May 23, 2024, Wrapped Bitcoin is trading at approximately 1.0008 BTC. Let’s dive into the detailed price action for WBTC-BTC:

Wrapped Bitcoin (WBTCBTC) poised for growth at 1.00 BTC, as bullish technical analysis reveals robust support and promising indicators.

Metric Value
Open (O) 1.001
High (H) 1.0019
Low (L) 1.0
Close (C) 1.0008
Volume (C) 372.35
  • Open (O): The opening price for today’s trading session was approximately 1.001 BTC.
  • High (H): Wrapped Bitcoin reached a daily high of around 1.0019 BTC.
  • Low (L): The daily low for WBTC-BTC was approximately 1.0 BTC.
  • Close (C): At the time of analysis, Wrapped Bitcoin is trading near its daily close of 1.0008 BTC.
Metric Value
1D Change (%) -0.02%
3D Change (%) 0.09%
7D Change (%) 0.04%
30D Change (%) 0.03%
90D Change (%) 0.07%
YTD Change (%) 0.15%

Over the past three days, WBTCBTC has increased by approximately 0.09%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 0.04%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with WBTCBTC maintaining an upward trend of approximately 0.03%, despite intermittent fluctuations. Examining the last 90 days, WBTCBTC has witnessed substantial rise of approximately 0.07%, reflecting strong long-term confidence. Year-to-date, WBTCBTC has steadily increased by around 0.15%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Wrapped Bitcoin Live Chart:

You can access a live price chart for WBTC-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.00815.
  • Momentum score is 0.0001.

WBTC BTC Technical Analysis

Wrapped Bitcoin Trading Volume:

The trading volume for Wrapped Bitcoin (WBTC) over the past 24 hours has been significant, with approximately 372.35 BTC traded against WBTC. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): WBTC is currently trading above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Wrapped Bitcoin is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for WBTC-BTC is currently in the neutral zone, around 53.353. This suggests that Wrapped Bitcoin is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Wrapped Bitcoin (WBTC-BTC) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and significant trading volume are neutral signals for potential sideways movement.

Wrapped Bitcoin (WBTCBTC) poised for growth at 1.00 BTC, as bullish technical analysis reveals robust support and promising indicators.

Unlock additional insights on WBTC USDT Wrapped Bitcoin Technical Analysis with our detailed analysis; a must-read if you enjoyed the content of this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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