TL;DR Breakdown Bitcoin price analysis reveals that the cryptocurrency is finishing a head and shoulder pattern.If the pattern strikes, Bitcoin price will fall further down to the $44,200 mark.Current support lies at the $44,487 mark.Current resistance lies at the $44,976 mark. Bitcoin price analysis reveals that the king of cryptocurrency is emerging out of a head and shoulder pattern. The head and shoulder pattern is a bearish pattern, and if the pattern strikes, the king of cryptocurrency can fall further down towards the $44,200 range. During the last 24-hours, Bitcoin has fallen by 0.28 percent and by over 13 percent during the past seven days. Bearish signs are engulfing the charts since the 7th of September flash crash owing to a $3.7 billion liquidation. BTC/USD price chart. Source Trading View As evident from the chart, the king of cryptocurrency is either emerging out, which means the bearish trend has passed already. In that case, there is a smaller reverse head and shoulder pattern also in the making. Otherwise, the head and shoulder bearish strike is about to hit the king and take the price further down. Bitcoin price analysis 1-day chart holding bearish sign The one-day candlestick Bitcoin price analysis chart reveals bearish signs all over. The upper Bollinger band is serving as the strongest resistance point found at the $52,294 mark. The volatility has slightly increased compared to the 7th of September. The...
