TL; Fault DR
- Bitcoin price analysis shows that there is a strong uptrend.
- If the BTC / USD support continues, it will most likely cross the $ 45,600 mark.
- Strong support levels are currently found at the $ 45,676 mark.
The king of bitcoin cryptocurrencies has been moving slowly and steadily for the past 24 hours. At the time of writing BTC / USD, the price is between $ 45,950 and $ 46,000. Most likely, the price move will be much higher than $ 46,000.
Bitcoin Price Analysis: BTC Ascent is all set on the 4-hour candlestick chart
In the last 24 hours, the price of Bitcoin has re-tested the $ 46,000 mark more than once, but support in the $ 45,600 range is not enough to keep the King above $ 46,000. However, in the last 24 hours the Bollinger Bands have shown that volatility has declined from the wider margin to the smaller margin for the king of cryptocurrencies. At the bottom of the Bollinger Band is $ 42,837 and at the top is $ 46,748, which sets the limits for digital currency volatility.
The strong moving average is found at $ 45,676 and the strong Bollinger Bands support level is found at $ 44,792. On the other hand, the Relative Strength Index (RSI) remained in the Greens for the past 24 hours with a score of 64.41.
Bitcoin price analysis: 1-day chart confirms retest with strong resistance
In the 1-day candlestick chart, the Bitcoin price analysis shows some deviation from the 4-hour candlestick chart discussed above. The uptrend started on August 4 and has controlled all market movements since then, however, it has been down twice in a row in the last 7 days. At the time of writing the 1-day candlestick chart, a further oscillation period is shown for the king of cryptocurrencies, where the Bollinger Band is below the $ 32,250 mark, while the upper is at the $ 47,516 mark, with a very high volatility curve. It is bigger.
Similarly, the moving average support is found at $ 42394 and the Bollinger Bands support level is at $ 39883. Another important deviation is the RSI score, which is in the reds with a score of 71.11.
Bitcoin price technical indicators
The sentiment of the Bitcoin market is very good because this cryptocurrency has a strong buy in moving averages and buys in all technical indicators. In 16 indicators out of 26 total indicators, the buy sign is shown based on 13 indicators of moving average and three oscillating indicators.
Four oscillators with a moving average indicator are neutral, while four oscillators show a sell sign with a moving average that supports the sell indicator.
Bitcoin price analysis shows that the king has maintained his strength on the uptrend, and despite all the signs of decline in trying to reverse the movement, yesterday the king managed to cross the resistance level of $ 45,600. Similarly, if current support levels continue, the king of cryptocurrencies is likely to cross the $ 46,000 resistance level and stabilize above this level. If current support fails, King is likely to reach $ 45,500 and regain $ 46,000.
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