TL; Fault DR
- Bitcoin price analysis is declining for today.
- The BTC / USD downtrend continued overnight.
- BTC seems to set the other lowest level.
Bitcoin price analysis shows that the downtrend continues today as BTC continues to move overnight. Therefore, we expect the BTC / USD to fall further today and reach its lowest level in the future.
The cryptocurrency market has reached its lowest level in the last 24 hours. The value of bitcoin and atrium fell by 1.21 and 3.33 percent, respectively. Cosmos (ATOM), meanwhile, has the best performance with a 6.25% increase.
Bitcoin price movement in the last 24 hours: Bitcoin falls behind the resistance of $ 48,500
BTC / USD traded in the range of $ 47,678.15 – $ 48,685.87, indicating low volatility in the last 24 hours. Trading volume fell 6.67 percent to $ 27 billion, while the total market value was trading at about $ 900.9 billion, resulting in 42.21 percent market dominance.
4-hour chart BTC / USD: Does BTC seem to be at its lowest level today?
In the 4-hour chart, we see that the price of bitcoin continues to fall as bears reach their lowest level.
The bitcoin price trend has been reversed this week. After a rapid fall of more than 15% on September 7, support finally found around $ 44,000.
The result was a reaction and stabilization of about $ 46,500 in a few days, which slowed down last week. The $ 44,000 support was re-tested on Monday as volatility increased.
Over the next few days, BTC / USD rose to a new all-time high of $ 48,500. Since then, the price of Bitcoin has risen again on Thursdays and Fridays, reaching a low of $ 47,000.
Yesterday, BTC saw another rapid jump, which briefly crossed the $ 48,500 resistance. However, the cows were not yet ready to climb further, and as a result fell slowly again in the last 24 hours.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is declining today because a slow trend was observed overnight and is likely to continue today. Therefore, we expect the BTC / USD to reach its lowest level in the next 24 hours and is expected to reach its highest level next week.
As you wait for more bitcoin to move, read our articles on packaged bitcoins, decentralized exchanges, and the NFT market.
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