منو سایت

  • خانه
  • Bitcoin
  • Bitcoin Price Analysis: Bitcoin rejects decline again, another push of $ 29,000 next?

Bitcoin Price Analysis: Bitcoin rejects decline again, another push of $ 29,000 next?

 تاریخ انتشار :
/
  Bitcoin

Bitcoin price analysis is down today because we saw further stabilization below $ 29,000 because the overnight decline was rejected. Thus, the Bitcoin / US dollar will soon move even lower towards the $ 27,500 support.

Bitcoin Price Analysis: Bitcoin rejects decline again, another push of $ 29,000 next?  1
Thermal map of digital currencies Source: Coin360

The market has been trading at a slow pace in the last 24 hours because no specific direction has been set yet. Leading Bitcoin lost just 0.2 percent, while Atrium rose 0.07 percent. The rest of the top altcoins saw similar results.

Bitcoin price movement in the last 24 hours: Bitcoin failed to cross its previous lowest level, further stabilization

BTC / USD traded in the range of 28,326.61 to $ 29,335.03, indicating slight fluctuations in the past 24 hours. Trading volume fell 28.33 percent to $ 29.91 billion, while the total market value traded around $ 549.65 billion, which led to a market dominance of 45.85 percent.

4-hour chart BTC / USD: Is BTC ready to fall further?

In the 4-hour chart, we can see the Bitcoin price break, which has not reached a further uptrend, and this indicates that another test of the downtrend should be done over the weekend.

Bitcoin Price Analysis: Bitcoin rejects decline again, another push of $ 29,000 next?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price movements after the merger last week have seen an increasing acceleration in recent days. The local low was set at $ 30,000 on Wednesday, and another attempt at $ 29,000 support failed.

Bitcoin / US dollar quickly climbed to the $ 28,000 mark and immediately crossed the $ 29,000 mark. Therefore, the bears were not yet ready to reach the next support at $ 27,500 and the price needed to be further developed.

Since then, there has not been much of an upward trend, indicating that the bears are still in control. If there is no significant reversal, the price of Bitcoin will probably stabilize around the previously broken support. In general, by the end of the week, BTC / USD should test further further decline.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is declining today because we expect more downtrends to follow as the overall weekly market atmosphere is slightly declining. Therefore, after further stabilization, BTC / USD should continue to target the next key support of $ 27,500.

As you wait for more bitcoin to move, check out our price forecasts at WINkLink, BTCZ and Tectonic.