TL; Fault DR
- Bitcoin price analysis shows that the king of cryptocurrencies is in the correction phase.
- Strong support is currently found at the $ 48,083 mark.
- Strong resistance is currently found in the $ 49,350 mark.
Bitcoin price analysis shows that the king of cryptocurrencies has undergone healthy reforms in the last 24 hours. Over the past 24 hours, the price of bitcoin has fallen 0.17 percent, while at the time of writing, it has fallen 1.7 percent. Bitcoin is famous for its head and shoulder patterns, and if the current pattern becomes the same pattern, more improvements are on the way. The first few hours of the day are very important not only for Bitcoin but also for the overall market trend.
The 1-day BTC / USD candlestick chart shows a healthy correction
A one-day Bitcoin price analysis chart shows that the king is in a different situation where cows and bears are struggling to keep pace with the market in the coming hours. The Bollinger Band is still above $ 50,000 in the $ 50,844 range amid volatility on the overnight chart. The 9-day moving average (SMA 9) is higher than the current price and shows strong resistance at the $ 48,659 mark. While the Bollinger Bands and Bollinger Bands average are found at $ 44,182 and $ 47,513, which strongly supports the king of cryptocurrencies.
While the Bollinger Bands and Bollinger Bands average are found at $ 44,182 and $ 47,513, which strongly supports the king of cryptocurrencies. The Relative Strength Index (RSI) remains at 59.44, indicating a neutral position for the King’s buying and selling trend. The bulls have enough space to control the situation and return early.
Bitcoin Price Analysis: The 4-hour candlestick chart provides a clearer picture
The four-hour candlestick chart shows a situation similar to one-day charts with changes in numbers. The Bollinger Bands are at $ 49,667, the strongest resistance to volatility over the past few days. The 9-day moving average (SMA 9) also serves as a strong resistance point and stands at $ 48,581, which shows the current price to be offset.
The Bollinger Bands are $ 47,035 and the average Bollinger Bands are $ 48,351, which shows the strong support points of the King of cryptocurrencies. The RSI score on the four-hour Bitcoin price analysis chart is lower than the 51.17 one-day chart, giving cows the same opportunity to regain control.
Conclusion Bitcoin price analysis
The king of digital currencies has been breathing heavily for the past few hours after a sudden rise and fall. At the time of this writing, the BTC / USD price is fluctuating between $ 48,420 to $ 48,649, and after hitting the highest level of $ 49,350, shows the correction period. If the current trend continues and strong support remains, the price of Bitcoin will likely test the higher levels again in the coming hours.
However, if support fails, the king is likely to fall below $ 48,000 and seek further correction from the peak. So far, breeding is healthy and cows have an optimistic chance of regaining control.
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