TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD tests resistance at $ 44,000.
- Bitcoin is set to rise further today.
Bitcoin price analysis is bullish today as it was seen rising further overnight and the $ 44,000 resistance was briefly broken. Therefore, we expect another uptrend, which is likely to push the BTC / USD to a higher level later today.
The cryptocurrency market traded upwards in the last 24 hours. Bitcoin, the market leader, rose 1.27 percent, while Atrium rose 3.8 percent. Meanwhile, Solana (SOL) is the best actress today with a 9% increase.
Bitcoin price movement in the last 24 hours: Bitcoin broke $ 44,000 for a short time
BTC / USD traded in the range of $ 42,822.37 – $ 44,313.25, which shows a slight fluctuation in the last 24 hours. Trading volume decreased by 11.66% to a total of $ 28.9 billion, while the total market value was traded at $ 821.7 billion, resulting in 42.25% market dominance.
4-hour chart BTC / USD: Does BTC seem to be peaking today?
In the 4-hour chart, we can see the bitcoin price action being tested at $ 44,000, which, if broken, paves the way for a much higher climb.
Over the past few weeks, the Bitcoin price trend has been trading at a downward pace. The multi-day integration followed the initial jump on September 7, during which the BTC / USD fell by more than 15%.
The $ 44,000 mark acted as support several times until it broke the $ 48,500 reversal as a result of the reversal. Early last week, Bitcoin finally gained support with $ 41,000.
What followed was a further reaction in the middle of the week to $ 45,000. However, on Friday, the price rose again to $ 41,000. After further stabilization, BTC / USD conducted its fourth $ 41,000 test, again rejecting, showing that the bears are over and the market should reverse this week.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish for today because the cows returned the BTC overnight to the $ 44,000 resistance. As long as the uptrend continues today, we should see more gaps and the next target is the $ 46,500 resistance.
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