Bitcoin price analysis is bullish today because we expect it to follow a higher bullish trend after a steady climb in the last 24 hours. So, BTC / USD will probably try to break the $ 31,000 and move on from there.
As the uptrend continues, the market has seen more uptrend over the past 24 hours. Leading Bitcoin rose 1.68 percent, while Atrium rose 3.03 percent. Among the main altcoins, BNB and DOT were superior with about 6% increase in performance.
Bitcoin price movement in the last 24 hours: Bitcoin continues up to $ 31,000
BTC / USD traded in the range of 29869.83 to $ 30590.59, indicating slight fluctuations in the past 24 hours. Trading volume increased by 32.42% to $ 25.53 billion, while the total market value was about $ 580 billion, which led to a market dominance of 44.24%.
4-hour chart BTC / USD: Bitcoin stops at $ 30,500
In the 4-hour chart, we can see the formation of a slight stabilization from the morning, which indicates that a higher failure may soon follow.
The price of Bitcoin has been traded in a merger for more than a week. A clear support area was initially found around $ 29,000 and tested several times last week, while resistance was around $ 31,000.
Since then, there has been no clear indication of where the market is heading. BTC / USD will probably try to break the $ 31,000 mark, however, we may see it reversing once again.
Given this development of bitcoin price action, we have to wait for more price action to make sure that the market is really bullish. If a clear high is set, bitcoin should increase further in the coming days.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as we have seen steady progress from support of $ 29,000 to local resistance of $ 31,000. Therefore, if the movement continues, we will soon see the BTC / USD break above the current stabilization zone.
While you wait for more bitcoin to move, check out our articles on how to buy BTT, Elongate and CRO coins.