TL; Fault DR
- Bitcoin price analysis shows a healthy return to the $ 44500 level.
- The King coin is correcting for two consecutive days after buying too much.
- Bitcoin re-tests higher levels after correction.
The king of cryptocurrencies has been enjoying top prices of over $ 45,500 and $ 46,000 over the past few days. However, the Relative Strength Index (RSI) indicates that the digital currency has been bought a little too much during this period. Finally, after two days, the previous support level lost ground and the BTC / USD price is at a healthier support level, which is found below the $ 45,000 mark.
Bitcoin Price Analysis: 4-hour candlesticks show healthy correction and low volatility
4-hour candlestick chart analysis shows that the king of cryptocurrencies is moving down. King is looking for much healthier support levels than the slightly volatile support levels that previously existed at $ 45,000 and above. The current move in the price of Bitcoin / US Dollar may be declining, but the result will be a healthier move in the market.
At the time of writing, the price of Bitcoin is between $ 44,380 and $ 4,450, with the healthiest support currently available in the $ 44,600 price range. The low value of the Bollinger Band is $ 44,637, while the high value is $ 46,794, which indicates less volatility. While the strong support level of the Bollinger Bands is found at the $ 45716 mark, the support level of the moving averages is slightly lower than the $ 45862. The RSI score on the 4-hour chart shows a healthy score of 45.17.
Bitcoin Price Analysis: The 1-day candlestick further confirms the correction
The overnight candlestick chart further confirms the bearish wave of bitcoin price charts at the time of writing. While the RSI score at 65.06 is more towards the red zone.
The overnight candlestick chart also shows more volatile price movement, with the Bollinger Band below $ 34,483 and the high at $ 47,661. The Bollinger Bands are seen as strong support at the $ 41072 mark. Moving Average support is found at $ 43,774.
Bitcoin price technical indicators
Out of a total of 26 technical indicators, most oscillators show a neutral move that makes the market obsolete. Of the 11 oscillators, nine are neutral while one is on the buy signal and one is on the sell signal.
Of the moving average of 15 items, 12 are in the buy signal with two items on sale and one in neutral signals. These technical indicators can help you make better trading decisions.
The king of cryptocurrencies is looking for price correction, which is likely to stabilize the price above the $ 44500 level. However, if the current support levels do not offer a good high price, it could be reduced to further levels of $ 43,000. On the other hand, if the current support level continues, the price can rise again to re-test the previous high levels above the $ 45,000 and $ 46,000 mark.
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