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  • Bitcoin Price Analysis: Highly volatile market, high support at $ 56097

Bitcoin Price Analysis: Highly volatile market, high support at $ 56097

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  Bitcoin
  • Highly volatile markets may decline soon
  • Strongest support with $ 56097
  • The strongest resistance at $ 68,497

Bitcoin price analysis has shown us that asset costs have decreased, but the market, which is highly volatile, does not say that prices are rising or falling. It is said that prices are steadily declining with slight fluctuations. As of November 21, 2021, prices have plummeted to just under $ 58,400. After this, the price gradually went down until it finally rose sharply. The price went up to $ 58,800 and fell slowly again.

4-Hour Bitcoin Price Chart Analysis: Increasing Fluctuations

Bitcoin price analysis chart shows that volatility is increasing and is likely to continue to grow, making it a very unpredictable market for the king of digital currencies. But since price costs continue to fluctuate, it has been observed that prices remain lower in the value groove than price increases. As mentioned, it is possible that as soon as prices fall, cows will step in and raise prices and dominate the market as a whole.

The Bitcoin price analysis chart shows that the upper limit of the Bollinger Band is $ 60,291, which is resistance, and the lower limit of the Bollinger Band is $ 56097, which is an asset support. The moving average curve appears to be below the BTC / USD price, indicating a downtrend.

Bitcoin Price Analysis: Highly volatile market, high support at $ 56097 1
Source of 4-hour price chart BTC / USD: Trading view

The Relative Strength Index (RSI), although not significantly reduced, is now at 40. At present, the assets of the king of digital currencies are neither undervalued nor over-sold. However, that may change soon. Since the observed trend is downward, assets are likely to decline rapidly, but again due to high volatility, the market appears very unpredictable.

1-Day Bitcoin / US Dollar Analysis Chart: The likelihood of change continues to rise

A look at the Bitcoin price analysis chart shows that market fluctuations have increased after experiencing some hiccups. The market is not prone to change compared to the last few days. The upper limit of the Bollinger Band is $ 68497 which is resistance and the lower limit of the Bollinger Band is $ 55128. There is a huge gap between resistance and support, which makes buyers and sellers trade their assets.

Bitcoin Price Analysis: Highly volatile market, high support at $ 56,097 2
1 hour Bitcoin / USD price chart: Trading view

After analyzing the Bitcoin price analysis chart, it is inferred that the Relative Strength Index (RSI) is at 40, which puts the king’s assets of digital currencies at a moderate level, not over-sold, and Not cheap. Given how much the market has fluctuated, it is not possible to say whether prices will rise completely. Currently, neither cows nor bears dominate the market.

Bitcoin Price Analysis: Conclusions

Finishing the bitcoin price analysis, we realized that the king of digital currencies is still in the throne, and while facing some devaluation, it is not enough to leave the No. 1 spot. If the cows somehow succeed in regaining control of the market, the king of digital currencies will have a relatively good chance of reaching the $ 70,000 mark. As the market fluctuates more and more, it becomes more difficult to predict patterns of cost changes, meaning that it is now everyone’s game.

According to the observations made by analyzing the Bitcoin price charts, the stable support is at $ 56097, which indicates a downward movement. Bears do not completely control the market, but to some extent.

Disclaimer. The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before deciding to invest.