TL; Fault DR
- Bitcoin price analysis shows that the king has suffered a severe blow of more than 1800 dollars.
- Current support is available at $ 46,750.
- The current resistance is found at the $ 47,000 mark.
Bitcoin price analysis shows that the king of cryptocurrencies has suffered a severe blow to fall above $ 1,800 in a dramatic fall from the $ 48,600 range. The king of cryptocurrencies has been on a downward trend since yesterday, and at the time of writing, the price has dropped to around $ 46,000. The king of cryptocurrencies is hovering between $ 46,750 and $ 46,880. The market is currently witnessing declining crossovers in all charts.
The 1-day BTC / USD candlestick chart is marked with descending crossovers
A one-day chart of bitcoin price analysis shows that bearish crossovers are now engaging digitally and the market as a whole. The upper Bollinger Band is still found above the $ 50,000 barrier, showing the strongest resistance on the chart. The 9-day moving average (SMA 9) also acts as a bearish crossover in the $ 48,207 mark, while the current price is close to $ 46,900.
The average of the Bollinger Bands remains between SMA 9 at $ 47,498, which is shown as the last descending crossover in the daily candlestick chart. The $ 44,303 Bollinger Band is the strongest sign of support for the King. On the other hand, the Relative Strength Index (RSI), with a score of 53.10, acts as one of the most neutral indicators at the time of writing this article.
Bitcoin Price Analysis: The 4-hour geranium chart turns red
The four-hour chart of Bitcoin price analysis candlesticks generally turns red, and even the low value of the Bollinger Band serves as a bearish crossover. The Bollinger Band is priced at $ 49,585, which normally acts as the strongest resistance point. As the volatility increases, the Bollinger Bands average also acts as a strong resistance sign above the nine-day moving average of $ 48,390.
The nine-day moving average is seen at the $ 48,018 mark, which shows another bearish crossover on the chart. The latest descending crossover is offered with the Bollinger Bandwidth, which is much higher than the current market price. The Bollinger Bands are below the $ 47,195 mark. However, the RSI with 37.90 points is inclined towards the sell area.
Conclusion Bitcoin price analysis
The king of cryptocurrencies sank between $ 46,750 and $ 46,980 during the downtrend. If current support levels continue, the price of Bitcoin will probably hit $ 47,000 and higher again. However, the current downturn has shaken the market. If the current support level in the $ 46,700 area is shaken, the king of cryptocurrencies is likely to fall below $ 46,500 and above in the $ 45,000 range. However, the king looks strong at the current level of support and is ready to strike a $ 47,000 blow in the next few hours.
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