Bitcoin price analysis is bullish today as we see a strong increase in $ 28,000 support and a quick reaction to the previous merger area. So, we expect to have more uptrend later today, potentially to retest the previous highest local price of $ 30,000.
The market has experienced a rapid decline over the past 24 hours as previous support levels could no longer be tolerated. Bitcoin traded slightly higher at 0.13% after a quick recovery, while Atrium remained at 3.41% in red.
Bitcoin price movement in the last 24 hours: Bitcoin has left the previous integration
BTC / USD traded in the range of 28261.91 to 29972.64 $, which shows strong fluctuations in the last 24 hours. Trading volume increased by 36.68% to $ 36.14 billion, while the total market value was about $ 562.825 billion, which led to a market dominance of 45.3%.
4-hour BTC / USD chart: Bitcoin returns to $ 30,000
In the 4-hour chart, we can see the re-control of the uptrend, because of a stronger reaction after the drop observed in the middle of the day.
Bitcoin price movements have experienced much more stabilization over the past ten days as the market did not decide on the next move. With clear support at $ 29,000 and resistance at $ 31,000, BTC / USD has both tested again in recent days.
Yesterday, however, a slightly higher local level was set at around $ 30,000, indicating a possible drop in input. Overnight, sellers slowly piled up, pushing Bitcoin to its main support of $ 29,000.
The price cut was actually followed by a rapid rise to $ 28,000 in the middle of the day. In the following hours, a rapid reaction above $ 29,000 was observed, which potentially indicates that more ascents are on the way.
In general, a clear downward signal is seen in the market. We expect to see more negatives by the end of the month when Bitcoin reaches a higher local level.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as we saw a rapid decline to $ 28,000, which was met with a sharper response. Therefore, a higher uptrend can be expected, which is likely to lead to a higher, lower level.
As you wait for more bitcoin to move, check out our price forecasts at WINkLink, BTCZ and Tectonic.