TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD saw another rise overnight.
- Support was found at $ 41,200.
Bitcoin price analysis is bullish for today as the rapid overnight increase was quickly rejected and the market price returned below $ 44,000. Therefore, we expect the uptrend to return later this week and push BTC / USD higher.
The cryptocurrency market has fallen in price over the past 24 hours. Bitcoin lost 3.42% of its market value, while Atrium fell 2.69%. Avalanche (AVAX), meanwhile, is among the top performers with a 2.3% increase.
Bitcoin movement in the last 24 hours: Bitcoin rises to $ 40,200
BTC / USD traded in the range of $ 40,468.33 – $ 44,160.32, indicating widespread volatility in the last 24 hours. Trading volume increased by 7.25% to $ 42.59 billion, while the total market value was traded at about $ 802.33 billion, resulting in 42.38% market dominance.
4-hour chart BTC / USD: Is BTC inverted?
In the 4-hour chart, we see that the price of Bitcoin rejects a further decline and indicates a reversal of the future.
Bitcoin price trends continue to be traded in the downtrend market. After reaching the $ 53,000 mark on September 7, it saw a sharp drop of almost 20%.
From there, the BTC / USD stabilized until September 13, when a slight uptrend returned, bringing the market to $ 48,500. Then yesterday there was another drop of about 15% and support was found around $ 41,000.
As further downturns receded and bitcoin prices rose rapidly, we expect a new low to fluctuate. Overall, this price action development should move upwards by the end of this week.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as the further decline overnight after a short jump below $ 41,000 was sharply ruled out. Therefore, we expect the BTC / USD to reverse later this week and seek to recoup some of our losses.
As you wait for more bitcoin to move, read our articles on packaged Bitcoin, decentralized exchanges, and the NFT market.
Disclaimer. The information provided is not a commercial recommendation. Ramzifa.ir is not responsible for the investments made based on the information provided on this page. We strongly recommend independent research and / or consultation with a qualified professional before making an investment decision.