TL; Fault DR
- Bitcoin price analysis shows that the rising BTC has once again reached the $ 50,000 mark.
- The sign had previously been hit in August and dropped after a sudden fall.
- Current support is found at $ 47,049.
- The current resistance is found at $ 51,148.
Bitcoin price analysis shows that the king of cryptocurrencies is now enjoying the full swing of the uptrend that has been forming for more than three days. The king of cryptocurrencies once again hit the $ 50,000 mark and became the highest monthly record in history. Bitcoin is clearly moving upwards for more than three days, while in the last 24 hours, bitcoin has risen 5.19%, while King has risen more than 20% in the last seven days.
Bitcoin Price Analysis: A one-day chart shows an uptrend
The’s one-day Bitcoin price analysis chart shows that the king of digital currencies continues to enjoy the uptrend that started on October 1 after a sudden rise in price from $ 44,000 to $ 47,000. As volatility increases at the time of writing, the king of cryptocurrencies is doing very well in terms of uptrend. The upper bouts featured two cutaways, for easier access to the higher frets. While the uptrend in the chart is confirmed by the current price above the moving average, the average Bollinger Bands and the lower Bollinger Bands.
The nine-day moving average is at $ 45,808 and the Bollinger Band average is at $ 45,190. The Bollinger Bands, which show the strongest support, are priced at $ 39,232. While the relative strength index (RSI) is found at 62.33 and is slightly inclined to sell too much.
The 4-hour BTC / USD chart reaffirms the uptrend
The four-hour Bitcoin price analysis chart has further confirmed the uptrend, which has once again crossed the $ 50,000 mark. Although fluctuations in the four-hour chart are increasing, upward crossings have already occurred in the chart. The current price is higher than the Bollinger Bands, which indicates a full uptrend in the charts.
The high price of Bollinger is $ 49,861, which shows the strongest support instead of resistance at the time of writing. The nine-day moving average is also seen as strong support at the $ 48,723 border. While the average of the Bollinger Bands is $ 48,334. The bottom bar of Bollinger is $ 46,807. At the time of writing, the RSI is in the oversold area with a score of 71.59.
Bitcoin Price Analysis: Conclusions
The king of cryptocurrencies is accelerating after almost a month, and the current move is likely to dominate the entire market for at least another day. If there is no retreat from the downtrend, the current uptrend can increase the price to more than $ 51,000. On the other hand, if the current support is lost, the king of cryptocurrencies with support will be shaken and the price can reach the range of $ 47,000 or even lower.
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