Bitcoin technical indicators as of 21 July 2022

Here are the Bitcoin technical indicators that suggest its probable next price action. Bitcoin is trading today at $22,595.52, down 6.4%in the last 24 hours. It has a market capitalization of $431,908,748,229 with a trading volume of $42,085,900,711.

Contents hide

1 Relative Strength Index (RSI)
2 Exchange Netflow, inflow, and outflow
3 Simple Moving Average (SMA)
4 Open Interest (OI)
5 Longs Vs. Shorts

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 at 56, showing it’s neither trading at oversold nor overbought territory.

Chary source.

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 -2,599.231 with an inflow of 26,599.831 and outflow of 29,199.062. The Netflow suggests increasing pressure on spot exchanges and low volatility on derivatives exchanges.

Chart source.

Simple Moving Average (SMA)

A simple Moving Average is the average closing price of an asset over a given period. 

Bitcoin is trading at $22,595.52, below the 200-day simple moving average, signaling a bullish price movement.

Chart source.

Open Interest (OI)

Open Interest is the number of open positions (long and short) currently on an exchange’s trading pairs.

The Bitcoin open interest is increasing, meaning traders are opening trading positions. The move provides liquidity, volatility, and attention, supporting the current price trend.

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Longs Vs. Shorts

The longs/shorts ratio compares the exchange’s active buying and selling volumes, reflecting the Bitcoin market sentiment.

The Bitcoin long/short ratio is 0.9 indicating a negative market sentiment.

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