TL;DR Breakdown Bitcoin price analysis shows that Bitcoin is engulfed in a bearish movement.The bearish movement started on the 7th of September with a flash crash.Strong support is currently found at the $46,000 mark.Strong resistance is currently found at the $47,320 mark. Bitcoin price analysis reveals that the king of cryptocurrency is engulfed in a bearish momentum that started with a flash crash on the 7th of September. The king of cryptocurrency has been trying to recover past the $47,000 mark since the flash fall to the $43,000 level. During the past 24 hours, Bitcoin’s price has been down by 0.21 percent, and it is down by 6.27 percent on the seven-day chart. The king is keeping the market in overall bearish momentum with hints of bullish sprints here and there. Bitcoin price analysis 1-day candlestick shows increase in volatility The one-day candlestick Bitcoin price analysis shows that the volatility is slightly increasing on the one-day chart analysis compared to the past few days. The upper Bollinger band, marking the strongest resistance, is found at the $52,094 mark. While the lower Bollinger band, marking the strongest support, is found at the $45,073 level. BTC/USD 1-day candlestick price chart. Source: Trading View The nine-day moving average (MA) and the Bollinger bands’ average are still presenting bearish crossover serving as strong resistance points for the king of cryptocurrency. The nine-d...
