Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.
The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.
The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.
The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.
The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.
The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.
The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.
The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.
The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.