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Bitcoin Price Analysis: BTC supports over $ 50,000

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis shows that there is weak support for the highest level of $ 50,000.
  • Strong support is currently found at the $ 49,700 mark.
  • Strong resistance is currently found at the $ 50,400 mark.

Bitcoin price analysis shows that the king of cryptocurrencies has significant but weak support above $ 50,000. At the time of writing, King is trading between $ 50,200 and $ 50,300. Over the past 24 hours, the price of Bitcoin has risen 1.45% and 3.27% in the last seven days. The king of cryptocurrencies has been repeatedly testing the $ 50,000 psychological barrier over the past few days, and has finally found plenty of support to keep it above normal.

The 1-day BTC / USD candlestick chart shows a natural uptrend

Bitcoin price analysis on the overnight candlestick chart shows that the king of cryptocurrencies is undergoing a strong uptrend that is sound in every way. The Bollinger Band is priced at $ 5,366, while the volatility is slightly higher compared to the last 24 hours. The nine-day moving average also behaves normally, which is found at the $ 48,834 mark and acts as a strong support for the king.

Bitcoin Price Analysis: BTC supports over $ 50,000
BTC / USD 1 day candlestick price chart. Source: Commercial View

The Bollinger Bands average is found at $ 48,116, which is the second sign of support. The latest Bollinger Bands sign is at $ 44,866. The relative strength index also shows a slow score of 91.62, which indicates a steady upward movement in the game at the time of writing.

Bitcoin Price Analysis: The 4-hour candlestick chart shows increasing volatility

The four-hour Bitcoin price analysis chart shows more volatility compared to the 1-day chart compared to the last 24 hours and the last few days. The Bollinger Band is found at $ 51,463, which is the strongest resistance at the time of writing.

Bitcoin Price Analysis: BTC supports over $ 50,000 2
BTC / USD 4-hour candlestick price chart. Source: Commercial View

The nine-day moving average acts as the nearest support point with a value of $ 50,012. The average Bollinger Bands are found at $ 49,257, with the lowest support for Bollinger Bands. The bottom bar of Bollinger is found at $ 47,051. The relative reading strength index shows a similar 1-day chart with a score of 62.

Conclusion Bitcoin price analysis

Bitcoin price analysis finally shows that the king of cryptocurrencies has been able to gain significant support to keep the price above the psychological $ 50,000 mark. The king of cryptocurrencies has a steady momentum as of this writing and maintains strong support at a high level.

Strong resistance is currently found at the $ 50,400 mark. If the current level of support is shaken, the king is likely to fall below the $ 50,000 mark, as seen in the past few days. However, if the current support level continues, the King will probably test the $ 50,400 mark and above, the $ 50,500 mark.

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