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Bitcoin Price Analysis: Bitcoin is fast approaching $ 48,000, will the next failure follow?

 تاریخ انتشار :
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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish today.
  • Bitcoin rose overnight.
  • BTC / USD is set to break the $ 48,000 resistance.

Bitcoin price analysis is bullish for today as the market price approached $ 48,000 resistance in the past hours after re-testing support at $ 44,000 yesterday. Therefore, we expect the BTC / USD to eventually cross the $ 48,000 resistance and move to the next major target of $ 50,000.

Bitcoin Price Analysis: Bitcoin is fast approaching $ 48,000, will the next failure follow?  1
Encrypted currency heat map Source: Coin360

The cryptocurrency market traded at a strong uptrend, with Bitcoin topping the market with a 5.48% increase. Atrium, meanwhile, grew 7.21 percent, with Cardano outperforming by 22 percent.

Bitcoin price movement in the last 24 hours: Bitcoin price increase with support of $ 44,000

BTC / USD traded in the range of $ 45,442.83 – $ 47,794.21, indicating significant volatility in the last 24 hours. Trading volume increased by 9.67% to $ 35 billion, while the total market capitalization was about $ 897 billion, resulting in market dominance of 43.46%.

4-hour BTC / USD chart: Will BTC break the $ 48,000 resistance?

In the 4-hour chart, we can see the bitcoin price move closer to $ 48,000 in the previous swing as the cows try to finally climb higher.

Bitcoin Price Analysis: Bitcoin is approaching $ 48,000, will the next failure follow?
4-hour chart BTC / USD. Source: TradingView

The price of Bitcoin has been trading with a strong uptrend over the past month. BTC / USD quickly reached the $ 42,000 mark after making a major fluctuation above $ 29,500 on July 20.

Since Bitcoin reached its previous high, the overall market movement has risen again. What followed was $ 38,000 support in early August. From there, the cows once again pushed the market forward, this time to the $ 48,000 mark.

However, further ascents were not achievable, followed by several days of aggregation, and were tested twice with $ 44,000 support. Bitcoin did not see any further decline and started another support yesterday.

This bitcoin price development has led to another test of significant resistance at $ 48,000. Given the current uptrend, we can expect to see failure later today, with the next target being $ 50,000.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish in the next 24 hours as the bulls took over the market yesterday after re-testing the $ 44,000 support. Since then, the BTC / USD has approached $ 48,000 resistance and is currently trying to break the previous $ 48,000 fluctuation.

As you wait for more bitcoin to move, read our articles on the future of bitcoin, decentralized exchanges, and the NFT market.

Disclaimer. The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before making an investment decision.