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Bitcoin Price Analysis: BTC returns to $ 48,380

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis shows that Bitcoin is recovering well after a week.
  • Bitcoin suffered a cardiac arrest on September 7, causing a sudden crash.
  • Current support is available at $ 47,250.
  • The current resistance is found at the $ 48,800 mark.

Bitcoin price analysis shows that the king of cryptocurrencies is having a good day, after the flash failure, and this acceleration is currently relatively upward. The king of cryptocurrencies suffered a cardiac arrest on September 7, apparently due to the $ 3.7 billion liquidation. The price had dropped by more than $ 7,000 in a matter of minutes, and the king has since kept the price low. However, in the last few days, the price of Bitcoin is now recovering well and showing upward trends.

Bitcoin price analysis shows a 1-day chart promising cows

The overnight bitcoin price chart shows that the digital currency is now moving fast after a few days of mixed activity. The last few days have seen an upward trend, which increases the current price movement. Although volatility has increased, stability has increased with it.

Bitcoin Price Analysis: BTC reached $ 48,380
BTC / USD 1 day candlestick price chart. Source: Commercial View

At the time of writing, the Bollinger Band is trading at $ 52,155 and the Bollinger Band is trading at $ 43,699. The Bollinger Bands average and the nine-day moving average act as strong support points on the chart. The Bollinger Bands average $ 47,927 and the 9-day moving average is $ 46,351. The relative strength index shows a score of 54.34, which is a neutral score for cryptocurrencies.

The 4-hour price chart shows BTC / USD across the green chart

The four-hour charts of Bitcoin price analysis are greener than the one-day charts. Although the fluctuations have multiplied, there are only a few red candles among all the green candles on the chart. The top of the Bollinger Band is found at $ 49,161, which is also a normal resistance point. While the Bollinger Bands are at $ 43,638, which indicates strong support and less volatility than the one-day chart.

Bitcoin Price Analysis: BTC reached $ 48,380 2
BTC / USD 4-hour candlestick price chart. Source: Commercial View

The king of cryptocurrencies also enjoys a bullish trend on the four-hour chart, while the nine-day moving average and the Bollinger Bands average support the current price. The nine-day moving average is at $ 47,737 and the Bollinger Bands average is at $ 46,400. The relative strength index is found at 65.72, slightly inclined to buy but still provides ample opportunity for cows to play.

Conclusion Bitcoin price analysis

A four-hour, one-day bitcoin price analysis shows that the king of cryptocurrencies is recovering well after a cardiac arrest and is now moving towards a healthy uptrend in the charts. If the current price stays the same, the king will probably try the $ 48,800 resistance again. If the current support price fluctuates in any way, the King is likely to severely shake and maintain the current support levels before an aggressive uptrend. However, the price is stable at the moment and it is likely that the price of Bitcoin will remain stable in the coming days.

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