For the past three days, the Bitcoin price has been indicating bullish momentum.
The cryptocurrency king has hit $50,000 price mark yet making it the monthly all-time. While during the past 24 hours the moves of bitcoin have been up by 5.19 percent while the king is up by over 20 percent during the past seven days.
On the 1st of October after a flash rise in the price from $44,000 to $47,000. The volatility has increased at the time of writing, when the bullish momentum comes the king of cryptocurrency is doing fine.
The bullish momentum is confirmed on the chart with the current price standing above the moving average, and the lower Bollinger band.
During the nine-day average moving, it was discovered that the $45,808 mark, while the Bollinger band average is found at $45,190.
BTC/USD 4-Hour chart
Bitcoin price analysis chart indicates confirmation of the brewing bullish momentum that has taken the price above the $50,000 mark.
Although on the four hours chart they have been an increase on the bullish crossover. The current price is above the upper Bollinger band marking a full-fledge bullish run on the charts.
Bollinger band is found at $49,861, the great support of the resistance. During the nine-day average moves, the acting support is found at the $48,723 mark.
The average Bollinger bands is found at the $48,334 mark. The lower Bollinger band is found at the $46,807 mark. The RSI score is on the oversold zone with a score of 71.59 at the time of writing.
After a month the king of cryptocurrency is enjoying bullish momentum and the current momentum is likely to rule the market as a whole for at least another day or so.
In the range of $51,000, the current bullish momentum can take the price further high if there is no pullback from the bearish side. While if the current support is lost, the price can fall back to the $47,000 range or even lower.
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