TL; Fault DR
- Bitcoin price analysis shows that there is a strong uptrend.
- Current support is found at the $ 43518 mark.
- The current resistance is found at the $ 46,000 mark.
Bitcoin is on the rise, and at the time of writing, there are no barriers to the king of cryptocurrencies. 4-hour geranium chart analysis shows that a small pattern and batch is formed at the time of writing, further confirming this bullish signal. If completed, the king of cryptocurrencies will likely cross the $ 45,800 mark to $ 46,000.
Bitcoin Price Analysis: The 4-hour candlestick is a strong uptrend
Analysis of the Bitcoin price on the 4-hour candlestick chart shows a stronger uptrend, while the price reaches $ 45,550 at the time of writing. It should be noted here that the price goes to the mark of $ 45,600 and above when writing. However, the Bollinger Bands show strong volatility in the price of Bitcoin, with the Bollinger Bands high at $ 45,930 and the low at $ 41,106.
The moving average price of BTC / USD is $ 44,251, which also serves as a point of support at the time of writing. The strongest point of support at the time of writing is $ 43518. The RSI score on the 4-hour candle chart is at 69.06, just below the red zone at 70.
Bitcoin Price Analysis: The 1-day candlestick chart shows a slight deviation
The 1-day candlestick chart for the King of Cryptocurrencies shows a slight deviation from the 4-hour candlestick chart. However, cup and handle formation, which is small on the 4-hour chart, seems to be well formed on the 1-day geranium chart. The BTC / USD price is currently experiencing an uptrend formed by the formation of the cup and handle pattern. On the 1-day chart, the volatility is slightly higher, the upper Bollinger Band is at $ 46,872 and the low is at $ 31,455.
The $ 41,651 moving average is seen as the first support level for the BTC / USD pair, while the strong support is found at the $ 39,163 mark, which indicates a deviation from the 4-hour candlestick chart. The RSI score is found at 71.67, which is another slight deviation from the 4-hour candlestick chart because the current score for the RSI score is only in the red zone. A score above 70 means that the king of cryptocurrencies has been over-purchased at the time of writing.
Technical indicators for the price pair BTC / USD
Out of 26 technical indicators, 9 indicators are neutral, while 15 indicators are in the buy signal and only two are in the sell signal at the time of writing.
Eight of the 11 oscillators are neutral, two are in the buy sign and only one is in the sell sign. While out of the moving averages, only 13 indices with only one neutral index and one sales index are in a strong buy point.
If strong support continues, the king of cryptocurrencies is moving upwards, which is likely to push the BTC / USD price above the $ 46,000 mark. Without the king’s support, the price of bitcoin will remain above the $ 43,000 mark, even if the bears control the bitcoin movement.
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