TL;DR Breakdown Bitcoin price analysis reveals a bumpy ride for the king of cryptocurrency.Bitcoin is likely to retest the $49,000 mark soon.Strong support is currently found at the $48,350 mark.Strong resistance is currently found at the $48,800 mark. Bitcoin price analysis reveals that the king of cryptocurrency is recorrecting price after a flash crash right after midnight on the universal clocks. The price has fallen in a similar manner as the flash rise on the 2nd of September. Interestingly the price has fallen to the same level as it was before the flash rise occurred. The king of cryptocurrency is now back to the support levels it was before the 2nd of September after enjoying brief moments of highs above the $50,000 mark but unable to gain enough support to maintain these highs. During the past 24-hours alone, the price has fallen by 2.31 percent; however, the price is up by 2.68 percent in the past seven days. BTC/USD 1-day price chart shows corrective movements The one-day Bitcoin price analysis candlesticks chart reveals corrective movements for the king of cryptocurrency. The upper Bollinger band is found at the $50859 mark while the overall volatility is decreasing. Bitcoin price stands at the $48,588 mark at the time of writing, and both the nine-day moving average as well as the Bollinger band’s average are serving as strong supports. BTC/USD 1-day candlestick price chart. Source: Trading View The nine...
