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Bitcoin Price Analysis: Bitcoin at $ 46,000

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis shows that bitcoin is in a downward trend.
  • The downturn began on September 7 with a sudden crash.
  • Strong support is currently found at the $ 46,000 mark.
  • Strong resistance is currently found at the $ 47,320 mark.

Bitcoin price analysis shows that the king of cryptocurrencies is on a downward trajectory that began with a sharp fall on September 7th. The king of cryptocurrencies is trying to return from the $ 47,000 mark after falling sharply to $ 43,000. Over the past 24 hours, the price of bitcoin has fallen 0.21 percent and in the seven-day chart has fallen 6.27 percent. The king keeps the market generally moving here and there with hints of rising speeds.

The 1-day candlestick shows the bitcoin price fluctuating increase

The price analysis of one-day geranium bitcoin shows that the fluctuations in the analysis of one-day charts are slightly increased compared to the last few days. The Bollinger Bands, which show the strongest resistance, are priced at $ 52,094. The Bollinger Bands, which show the strongest support, are at $ 45,073.

Bitcoin Price Analysis: Bitcoin at a price of $ 46,000 1
BTC / USD 1 day candlestick price chart. Source: Commercial View

The nine-day moving average (MA) and the Bollinger Bands average continue to provide a bearish crossover that acts as a strong resistance point for the king of cryptocurrencies. The 9-day MA is found at $ 48,818, while the Bollinger Bands average is found at $ 48,584. The relative strength index is found at the neutral value of 46.57 and provides ample opportunity to improve the uptrend.

The 4-hour BTC / USD candlestick shows a decrease in volatility

Although the one-day chart shows a slight increase, the four-hour candlestick bitcoin price analysis chart shows a decrease in volatility in the four-hour chart patterns. The upstream Bollinger Band is found at $ 50,203, while the current price is fluctuating at the time of writing. The bottom of the Bollinger Band, which indicates a strong support point, is found at the $ 43,551 mark.

Bitcoin Price Analysis: Bitcoin at $ 46,000 2
BTC / USD 4-hour candlestick price chart. Source: Commercial View

The average of the nine-day MA and Bollinger Bands is higher than the current price, indicating downtrends and strong resistance points for the King. The MA is found at the $ 46,370 mark, while the Bollinger Band average above it is at $ 46,877. The RSI is down 36.87.

Conclusion Bitcoin price analysis

Cows and bears are struggling to accelerate bitcoin charts and, in turn, overall market movement, but so far there has been a tough fight between the two trends. Bitcoin shows good support for the highest level of $ 46,000 and keeps it strong in the small fluctuations below the $ 46,000 level. On the other hand, the market continues to suffer from the loss caused by the fall of $ 7,000 bitcoin on September 7. If the current support level continues, the king of cryptocurrencies is likely to maintain the current price level to retest the highest level of $ 47,000. If the current support levels are shaken, Bitcoin will fall in the price chart, which is in the range of $ 45,800 or lower.

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