TL;DR Breakdown Bitcoin price analysis reveals that the cryptocurrency is correcting after the flash crash.A flash crash took the price down to the $43,173 level before rising up.Strong support is currently found in the $46,100 range.Strong resistance is currently found at the $46,500 range. Bitcoin price analysis reveals that the king of cryptocurrency is now undergoing corrective momentum after a flash crash that took the price as low as the $43,173 mark. The king of cryptocurrency managed to recover to the $46,000 level right after the flash crash on the 7th of September. In a flash crash, the king of the cryptocurrency fell about $7,000 from the $50,800 range to below the $43,200 range. The king is down by 11.7 percent in the past 24-hours and 1.27 percent in the past seven days. Bitcoin price analysis: 1day chart shows bearish crossovers The one-day Bitcoin price analysis chart shows increased volatility in the price movement due to the heavy dip in the price during the past 24-hours; however, the volatility is still lower than the past month. The upper Bollinger band is found at the $52,003 mark showing the strongest resistance mark for the king of cryptocurrency, followed by a couple of bearish crossovers. BTC/USD 1-day candlestick price chart. Source: Trading View The nine-day moving average (MA) also marks the first bearish crossover at the value of $49,229, while the Bollinger bands’ average marks the second ...
