- The market trend seems to be bullish with little caution.
- Strongest resistance at $61,911.
- Strongest support at $47,806.
Today’s Bitcoin price analysis shows that the cryptocurrency royalty seems to be following a relatively bullish trend at $50,233; after following a head and shoulder movement on 7 December 2021, the market stays constant around the $49,000 mark. The king of cryptocurrencys’ price seems ready to hike after remaining stable for the past couple of days. On 8 December 2021, the cost of BTC/USD is $50,233.
BTC/USD 4-hour price analysis: market volatility decreased
Bitcoin price analysis of the 4-hour chart shows that Bollinger’s band indicates that the market is losing volatility, with Bitcoin still on the throne industry of cryptocurrencies.
The Bollinger’s band lower limit rests at $$47,806, which is the support, and The Bollinger’s band upper limit rests at $51,989, which is the resistance. The moving average curve shows an incline in the chart because the price goes over the curve, indicating a bullish movement.
Bitcoin price analysis shows that the Relative Strength Index (RSI) is at 45; this indicates that the king of cryptocurrencys’ shares or assets are neither on the undervalued side nor on the oversold side; BTC has managed to escape both extremes and manage a constant flow. The market losing volatility and the trend being bearish may be signs that the price of Bitcoin is going towards a rise in the overall cost.
Bitcoin 1-day price analysis: BTC/USD downward biased
The Bitcoin price analysis analysis indicates that the cryptocurrency Volatility of the market is rising. The Bollinger Band’s upper limit rests at $61,991, the resistance, while the Bollinger’s lower limit rests at $48,509, the support. The BTC/USD price crossing over the moving average curve shows that the market trend is bullish.
The Bitcoin price analysis for the 1-day chart shows that the Relative Strength Index (RSI) is at 35; This means that the cryptocurrency royalty, Bitcoin, is being undervalued. The bulls will need to up their game, or the bears will soon dominate the market, and the prices will drastically drop.
The market volatility is still increasing, which also increases the unpredictability of the cost of BTC/USD pointing towards the possibility that the price of the assets is prone to change to either extreme; it could skyrocket or plummet entirely.
Bitcoin Price Analysis Conclusion: Bears and bulls fight it out
The Bitcoin price analysis conclusion shows that observations made on the current behavior of the royalty of cryptocurrency show that it is following a relatively bullish trend, with tiring away at the $70,000 mark, as the price reached $67,514 on 7 December 2021.
The chart analysis shows a steady bullish momentum. It is predicted that the king may soon enter the $70,000 mark range, but this depends on the support fluctuations; if the current support fluctuates, we may see a decline in the prices as far as $45,000.
Observations show that the current stable resistance lies between $47,806 to $48,509. This means that the bulls are slowly losing control of the; the bears are stepping up their game and hope to decline the price of the assets and capture the market; if the trend is in their favor, for now, the bulls are dominating the market.
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