TL: DR failure
- Bitcoin price analysis shows a side move above $ 44,000
- The nearest support level is $ 45,000
- BTC is facing resistance at $ 46,000
Bitcoin price analysis shows that BTC has made a strong recovery above the $ 44,000 support after falling to $ 44,000. Since then, the price has remained above the mark but did not cross the $ 46,000 mark over the weekend due to strong resistance.
The large cryptocurrency market has been feeling bullish for the past 24 hours as most cryptocurrencies have seen positive changes during this time. The main players are ALGO and DOT, which record 20.00 and 16.47% slope, respectively.
Bitcoin Price Analysis: Price fluctuates as speculation increases
Across the technical indicators, the MACD is bullish as shown by the dark green histogram. However, the indicator shows a low uptrend because the green histogram is very small at the time of pressure. The indicator showed a bullish crossover two days ago and has remained green ever since. While the movement initially increased, it stagnated as the price closed at $ 46,000.
EMAs are currently below average and moving towards the x-axis. EMAs are moving upwards but with a slight slope as BTC continues to fluctuate around $ 46,000.
The RSI is currently neutral but has low trades indicating that selling pressure is affecting price performance. Currently, the index is moving downwards as bitcoin price analysis shows another rejection of the $ 46,000 mark.
Bollinger Bands are currently narrow and have seen a sharp convergence over the past three days as bitcoin prices fluctuate between $ 0.240 and $ 0.260. Currently, the range of bands is moving horizontally, which indicates that the trading activity of this currency has decreased. In general, the bands indicate that BTC fluctuations will remain low in the short term.
BTC / USDT Technical Analysis
Overall, the 4-hour Bitcoin price analysis shows a sell signal with 15 of the 26 main technical indicators indicating a downtrend over time. On the other hand, only one indicator shows the buy signals, which indicates the presence of low prices at the current price level. At the same time, ten indicators are neutral and do not send any signal when writing.
The 24-hour Bitcoin price analysis does not share this sentiment and shows 10 indicators in favor of cows against eight indicators supporting the bear. The analysis shows a negative feeling that indicates a downtrend for BTC. Meanwhile, the remaining eight indicators are on the fence and do not support any of the markets.
What can be expected from bitcoin price analysis?
Bitcoin price analysis shows that there are more side effects as BTC seeks upward support. Market sentiment is bullish, but technical indicators indicate bullish fatigue in the short term, traders should expect a drop to $ 44,000 again before the price rises above $ 46,000.
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