Bitcoin price analysis: BTC finds support above $50,000

TL;DR Breakdown Bitcoin price analysis reveals weak support for the $50,000 high.Strong support is currently found at the $49,700 mark.Strong resistance is currently found at the $50,400 mark. Bitcoin price analysis reveals that the king of cryptocurrency has found important but weak support for the $50,000 high. The king is trading hands in the range of $50,200 and $50,300s at the time of writing. During the past 24 hours, Bitcoin price has been up by 1.45 percent and by 3.27 percent in the past seven days. The king of cryptocurrency has been retesting the $50,000 psychological barrier for past few days repeatedly and finally managed to find ample support to sustain above the mark. BTC/USD 1-day candlestick chart shows normal bullish momentum The Bitcoin price analysis on the one-day candlestick chart reveals that the king of cryptocurrency is going through a strong bullish momentum which is healthy on all parts. The upper Bollinger band is found at the $51,366 mark, while the volatility is increasing slightly compared to the past 24-hours. The nine-day moving average is also behaving normally, which is found at the $48,834 mark, acting as strong support for the king. BTC/USD 1-day candlestick price chart. Source: Trading View The Bollinger bands’ average is found at the $48,116 mark providing the second support mark. The last support mark is found with the lower Bollinger band found at the $44,866 mark. The relative ...