Bitcoin is allegedly playing mind games. Analysis has been done on the recent trends of cryptocurrency. A detailed look at their chart suggested a consolidation in its prices. This trend could be continuous unless the market is shaken by some great moves. 17th September saw the Bitcoin values get even tighter than before. The incident was recorded for two days. Data analysts from TradingView Markets have taken a closer look at trending Bitcoin. Let us have a detailed account of the whole scene below.
Bitcoin Prices Gets Tighter
The recent data analysis has brought some intriguing facts. The estimation of Bitcoin has been around $47,150 & $48,150. This was supposedly happening due lack of market shake-ups. The market did not have any interesting headlines of late. Delphi Digital stated that BTC suffered a sudden decline in its prices in the previous week. This was pretty much unexpected and caught the field of crypto unguarded. It resulted in a massive dip in the market.
BTC promptly responded to the changes and stabilized its prices. The market also seemed to be coming back to normal with the investors still being cautious. Pentoshi tweeted that the trends have denoted a bull flag. It also predicted resistance of price at $46,800.
There is still good news for you to rejoice though. Analysis from Pentoshi also points out that major upcoming incidents can again boost up the market. These developments could potentially provide a momentum of bullish nature for the market.
Bitcoin was accused of playing tricks and games with the investors. This allegation was brought in by a reputed trader of crypto on Twitter. He stated that the dip in the market price of Bitcoin would be temporary. The company will eventually up the ante and hike the prices shortly.