TL;DR Breakdown Bitcoin price analysis shows that BTC is recovering well after a week.Bitcoin had gone into a cardiac arrest that caused a flash crash on the 7th of September.Current support is found at the $47,250 mark.Current resistance is found at the $48,800 mark. The Bitcoin price analysis reveals that the king of cryptocurrency is going through a good recovery phase days after the flash crash occurred, and the momentum is now fairly bullish. The king of cryptocurrency had gone into a cardiac arrest on the 7th of September, apparently due to a $3.7 billion liquidation. The price had fallen over seven thousand dollars in a matter of minutes, and the king was holding the lower end of the price movement since then; however, in the past couple of days, Bitcoin price is now recovering rather well, showing bullish tendencies. Bitcoin price analysis, 1 day chart shows promise for bulls The one-day Bitcoin price chart reveals that the cryptocurrency is now moving in bullish momentum after several days of mixed activity. The past few days have been bullish in momentum, which is building the pace for the current price movement. Although the volatility has increased, the stability has increased with it. BTC/USD 1-day candlestick price chart. Source: Trading View At the time of writing, the upper Bollinger band is found at the $52,155 mark, while the lower Bollinger band is found at the $43,699 mark. Both the Bollinger bands’...
