TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD overnight saw a strong rise above $ 50,000.
- The price of Bitcoin today reaches $ 53,000.
Bitcoin price analysis is bullish for today as the market rose overnight to $ 52,000 in the closing hours after a strong uptrend. Therefore, we expect BTC / USD to continue its uptrend and reach the $ 53,000 level in the next stage.
The cryptocurrency market traded upwards in the last 24 hours. Bitcoin rose 2.8 percent, while Atrium rose 0.58 percent. Meanwhile, Solana (SOL) is the best actor with a 9% increase.
Bitcoin price movement in the last 24 hours: Bitcoin increase with support of $ 50,000
BTC / USD traded in the range of $ 50,132.05 – $ 52,119.79, which shows a strong fluctuation in the last 24 hours. Trading volume increased by 19.74% to $ 36.86 billion. Meanwhile, the total market value is trading at about $ 971 billion, which leads to a market dominance of 41.39%.
4-Hour BTC / USD Chart: The next BTC target is $ 53,000?
In the 4-hour chart, bitcoin price performance can be prepared to prepare for the next move with a slight movement in the past few hours.
The price of bitcoin has risen more than 75 percent in recent weeks as the new low fluctuation rate was set at July 29th. From there, the BTC / USD set a set of highs until strong resistance was found at $ 50,000 in the second half of August.
After returning the price to $ 46,500 and retesting it a few days later, Bitcoin reached its lowest level. BTC / USD climbed again at the end of August and stabilized around the $ 50,000 resistance level.
The bitcoin price move slowed trading yesterday until the market began to move closer to midnight. What followed was an overnight jump to $ 52,000, some of which had improved over the past few hours. Overall, this could lead to a further uptrend in bitcoin today.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish in the next 24 hours as the market finally crossed the $ 50,000 mark and reached the $ 52,000 mark. As the uptrend for BTC / USD is still strong, the next resistance is expected to be as high as $ 53,000 in the future.
As you wait for more bitcoin to move, read our articles on packaged Bitcoin, decentralized exchanges, and the NFT market.
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