BTC Is Correcting Between $45.5K-$47,3K.Will it Last for A Week?
Bitcoin price is still consolidating around the $46,000 zone. It can be figured out from the hourly chart that BTC must clear the obstacle at $47,500 and $48,000 to start a steady increase in the near term.
The price is still trading well below $48,000 and the 100 hourly simple moving average. From September 7 night, Bitcoin started the correction in the range of $45,500-$47,300 till now. If it cannot walk out from this trend, it could last for like a week.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bullish zone.
Hourly RSI – The RSI is now near the 50-level.
Major Support Levels – $46,200, followed by $45,500.
Major Resistance Levels – $47,000, $47,500 and $48,000.
The price is still trading well below $48,000 and the 100 hourly simple moving average. From September 7 night, Bitcoin started the correction in the range of $45,500-$47,300 till now. If it cannot walk out from this trend, it could last for like a week.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bullish zone.
Hourly RSI – The RSI is now near the 50-level.
Major Support Levels – $46,200, followed by $45,500.
Major Resistance Levels – $47,000, $47,500 and $48,000.
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