Bitcoin is flowing below 100 Exponential Moving Average (EMA) on a daily Timeframe and the price is consolidating above 21 EMA. Bitcoin Price Update according to technical analysis is predictable however we shouldn’t trust what this weekend holds for us.
The live Bitcoin price today is $47,037.03 with a 24-hour trading volume of $28,673,792,492. We update our BTC to USD price in real-time. Bitcoin is down 0.65% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $885,169,179,052. The increase in volatility has given a rise to Bitcoin domination and the rise is still positive in bigger timeframes as in the Daily timeframe.
Bitcoin Price Update: Technical
The 1D timeframe chart has 21 EMA acting as support and 100 EMA flowing above is acting as resistance. The Falling Wedge Pattern is also obvious in the same timeframe.The red candle of fall from $52,000 to $42,000 has appeared as a inverted flag pattern. If the resistance of $48,170 breaks above, the falling wedge and the inverted flag pattern can pull a price rally upwards and the weekend ahead can turn all Green.