The price of bitcoin has steadied after a spectacular flash crash pushed the cryptocurrency down nearly 19 percent intraday on Tuesday—the day El Salvador adopted it as legal tender—but analysts say investors should brace for more volatility. “Post liquidations can push prices around for a few days,” wrote cryptocurrency technician Daniel Joe, in an analytical note on CryptoPotato. Early Thursday, bitcoin was trading sideways in a narrowing wedge pattern around the $46,000 mark, a technical set-up suggesting it is poised for a breakout—either up or down. “Bitcoin price action finds near-term support, but the bias remains mixed,” wrote the crypto team at FXStreet, in an analytical note, adding that the cryptocurrency is “between two key zones that will dictate the future trend,” namely around $48,000 and $44,500. By 5:06 a.m. New York time, bitcoin was trading at $46,298 on Coinbase and was continuing to make tighter bounces between the trend …
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