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.
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.
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.
As you wait for more bitcoin to move, read our guide on how to create NFT art, NFT markets, and review Coinbase Wallet.
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.