Bitcoin price analysis; Where is the resistance and support ahead?

The price of Bitcoin failed to strengthen its trend in the area above $ 46,500, and this caused the fall of this digital currency. The price of Bitcoin fell to $ 44,135 after the fall. At the moment, we are also witnessing a price recovery.

to the Report At one point, Newsbate was over $ 45,000. Fibonacci 50% was one of the levels that the bitcoin price managed to cross. The Fibonacci was down from $ 47,399 to $ 44,135. The $ 46,000 to $ 46,200 currently serves as a resistance.

The current price of Bitcoin is a long way from $ 46,000 and a simple 100-hour moving average. $ 45,750 can be considered the first bitcoin resistance, followed by the simple 100-hour moving average of the next resistance.

$ 46,000 is the main resistance of Bitcoin and $ 46,200 is the next resistance. After these levels, $ 47,400 acts as a key resistance in the short term.

If Bitcoin fails to cross the $ 46,000 resistance level, the downtrend is likely to continue. In the event of a fall, $ 45,000 will be the first bitcoin price support.

$ 44,500 is the main resistance of Bitcoin and $ 44,200 is one of the key supports of this digital currency. If the $ 44,200 support is broken, the downtrend is likely to continue. In the event of a further fall, $ 43,000 will be the next destination.

The MACD is slowly falling, and the Relative Strength Index (RSI) is once again below 50.

As we said, $ 44,500 and $ 44,200 are bitcoin price supports. $ 46,000, $ 46,200 and $ 47,400 also act as resistance to bitcoin.