TL; Fault DR
- Bitcoin price analysis is declining today.
- BTC / USD rose again to $ 44,000.
- The market is likely to shrink later today.
Bitcoin price analysis is bearish today as another one of the highest prices was set earlier today, and has been rejected for further ascent. Therefore, we expect another move to support $ 41,000 in the next 24 hours.
The general market turned green in the last 24 hours. Bitcoin, the market leader, rose 3.05 percent, while Atrium rose 3.25 percent. Meanwhile, the rest of the top altcoins are followed by a 1-3% increase.
Bitcoin price movement in the last 24 hours: Bitcoin climbed back to $ 44,000
BTC / USD traded in the range of $ 40,960.07 – $ 43,794.76, indicating significant volatility in the last 24 hours. Trading volume increased by 1.68% to $ 31 billion, while the total market value was traded at about $ 816.3 billion, resulting in 42.56% market dominance.
4-hour chart BTC / USD: Will BTC be reversed again?
In the 4-hour chart, we can see the bitcoin price move upwards, indicating a bearish reversal.
Over the past few weeks, the price of bitcoin has seen a slight increase. Following a sharp drop from the $ 48,500 mark on September 20, with support above $ 40,000, a new volatility was set.
Since then, $ 41,000 has been built as strong support, and many failures have not gone down. In addition, the BTC / USD has set several highs and lows, indicating that the market is trading in an increasing range.
A higher current move is likely to lead to another low price increase for Bitcoin. Overall, we can expect the bitcoin price action to stabilize in the rising range of more than $ 41,000 later this week, until there is a clear break on both sides.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bearish in the next 24 hours as the highest level is set below $ 44,000. Thus, BTC / USD is likely to move to the $ 41,000 support to continue trading in the uptrend range.
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