TL; Fault DR
- Bitcoin price analysis is bullish today.
- BTC / USD fell from resistance at $ 44,000.
- Bitcoin reached its lowest level today
Bitcoin price analysis is bullish today as resistance rose to $ 44,000 in the last 24 hours as bears hit a record low. Therefore, we expect the BTC / USD price to reverse and reach its highest level by the end of this week.
The overall market has fallen 2.9 percent in the last 24 hours, with Bitcoin topping the market. Atrium has seen an even worse performance drop of 4.55%, while the rest of the top altcoins are following ETH performance.
Bitcoin price movement in the last 24 hours: Bitcoin reaches its lowest level again
BTC / USD traded in the range of $ 41,576.13 – $ 44,027.24, which shows a slight fluctuation over the past 24 hours. Trading volume increased by 8.67% to a total of $ 31.75 billion, while the total market value traded at about $ 797.8 billion, leading to a market dominance of 42.47%.
4-hour chart BTC / USD: Is BTC reversing today?
In the 4-hour chart, we can see the bitcoin price move to the lowest level because the bears are likely to get tired again.
Bitcoin price performance fell further in the second half of September. After a sharp jump in prices on September 21, support was found around $ 41,000.
From there, bitcoins improved to $ 45,000, and the bears immediately put more pressure on sales last Friday, resulting in another test for $ 41,000 support.
Another $ 41,000 test was then performed after reassembly. After the price of Bitcoin was slightly above $ 44,000, another correction started yesterday. However, given the overall development of the market, we expect the bears to get tired, and the reverse should be done later this week.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today because the market price has reached the previous support of $ 41,000 after another 24-hour restructuring. Therefore, we will most likely see BTC / USD reach its lowest level and move more during the week.
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