Analysis of Bitcoin Premium in Korean Market
- Bitcoin Price Fluctuation: As of April 13 at 12:00 AM KST, Bitcoin (BTC) was trading at 105.53 million KRW on South Korea's Upbit exchange, down 2.79% from the previous day, indicating short-term market volatility that could affect investor confidence.
- Global Price Discrepancy: On the global exchange Binance, Bitcoin was priced at 104.91 million KRW, reflecting a price gap of 0.62 million KRW, suggesting a certain degree of price premium in the Korean market that may attract arbitrage traders.
- Altcoin Premiums: Ethereum (ETH) recorded a kimchi premium of 0.66%, while other major altcoins like Solana (SOL) and XRP showed premiums of 0.71% and 0.75% respectively, indicating strong demand for crypto assets in the overall market, potentially driving future price increases.
- Market Trend Observation: Most top altcoins are trading with premiums in the range of 0.6% to 0.7%, reflecting sustained investor interest in cryptocurrencies, which may lead to increased capital inflow into the market and further price appreciation.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 59809.382 | 63210.521 | 66987.722 | 70388.861 | 74166.062 | 77567.201 | 81344.402 |
| Fibonacci | 63210.521 | 65952.647 | 67646.735 | 70388.861 | 73130.987 | 74825.075 | 77567.201 |
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