TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD overnight jumped below $ 41,000.
- A further decline is still being ruled out.
Bitcoin price analysis is bullish for today as another jump below the $ 41,000 mark led to a further sharp decline. Therefore, we expect the BTC / USD to move later today and return above the $ 44,000 level in the future.
The overall market for cryptocurrencies has declined negatively in the past 24 hours. Bitcoin, the market leader, fell 2.96 percent, while Atrium fell 4.76 percent. Solana (SOL), meanwhile, remains among the worst performers, losing 9 percent.
Bitcoin price movement in the last 24 hours: Bitcoin increase below $ 41,000
BTC / USD traded in the range of $ 39,787.61 – $ 43,303.40, which indicates a lot of volatility in the last 24 hours. Meanwhile, the total market value is about $ 790.7 billion, which leads to 42.75 market dominance and a total trading volume of $ 43.57 billion.
4-hour BTC / USD Chart: Does BTC appear to be above $ 44,000 after that?
In the 4-hour chart, we can see that the price of Bitcoin is rising again after rejecting further decline.
Bitcoin price trend this month has been trading in a downward trend. After a sharp jump in prices on September 7, support was found around $ 44,000. Above this support, the BTC / USD stabilized for a few days until the slight uptrend reached a new new high of $ 48,500.
After that, another strong pressure fell on Monday, and BTC briefly fell below $ 41,000. After some rejection at first, another increase was observed during the night, this time reacting with the same reaction.
Overall, this bitcoin price expansion shows that the bears are tired. Therefore, we expect the BTC / USD to reverse and start moving towards the previous support of $ 44,000, which should lead to further uptrend this month.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish for today as the market once again rebounded below $ 41,000 overnight and has risen ever since. Therefore, we expect the cows to take over the market and BTC / USD to return above the $ 44,000 level.
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