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  • Bitcoin Price Analysis: Bitcoin is still stabilizing below $ 48,500, followed by a slow return trend?

Bitcoin Price Analysis: Bitcoin is still stabilizing below $ 48,500, followed by a slow return trend?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is declining today.
  • BTC / USD continued to stabilize below $ 48,500.
  • Bitcoin bullish bulls are likely to get tired after a strong rally yesterday.

Bitcoin price analysis is bullish today as the market continues to trade below the $ 48,500 resistance in the last 24 hours after a strong climb yesterday. Therefore, we assume that BTC / USD is ready to reverse and redefine some gains early next week.

Bitcoin Price Analysis: Bitcoin is still stabilizing below $ 48,500, followed by a slow return trend?  1
Encrypted currency heat map Source: Coin360

The overall market has been green in the last 24 hours and the leading bitcoin has grown 0.37%. Atrium, meanwhile, has grown 3.66 percent, with the rest of the top Altcoins trading with similar results.

Bitcoin price movement in the last 24 hours: Bitcoin continues to test resistance at $ 48,500

BTC / USD traded in the range of $ 47,157.29 – $ 48,282.06, indicating low volatility in the last 24 hours. Trading volume fell 10.72% to a total of $ 28.41 billion, while the total market value is trading at about $ 903.9 billion, resulting in 42.16% market dominance.

4-hour chart BTC / USD: Is BTC reset?

In the 4-hour chart, we can ignore the bears that are raising the price of bitcoin, which indicates a reversal of the future.

Bitcoin Price Analysis: Bitcoin is still below $ 48,500, so is it reversed?
4-hour chart BTC / USD. Source: TradingView

The price of Bitcoin has stabilized in an increasing range over the past week. Initial support was $ 40,000 after a sharp drop in the $ 48,500 volatility on September 20.

Following the resistance, the re-reaction to retest the previous original support increased to $ 44,000. From there, the BTC / USD started trading in an increasing range, with several attempts to cross the $ 41,000 which led to a sharp decline.

The price of Bitcoin finally rose on Friday, rising 10 percent to a major resistance of $ 48,500. Since no further climbs can be made in the last 24 hours, we assume that BTC / USD is scheduled for correction in the next few days.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is down for today because the market can not rise after $ 48,500 after yesterday’s strong growth. Therefore, we expect BTC / USD to reverse in the next 24 hours and test the previous high level as support.

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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.