TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD stabilized at around $ 50,000 yesterday.
- BTC is ready to break further.
Bitcoin price analysis is bullish today as the market returned above $ 50,000 after consolidating in the last 24 hours. Therefore, we expect BTC / USD to continue to this day and reach its next target of $ 53,000.
The cryptocurrency market traded with different results in the last 24 hours. Bitcoin, the market leader, rose 0.85 percent to above $ 50,000, while Atrium rose 0.69. Filecoin (FIL), meanwhile, is among the top players with a 22% increase.
Bitcoin price movement in the last 24 hours: Bitcoin has stabilized around $ 50,000
BTC / USD traded in the range of $ 49,538.60 – $ 50,459.79, indicating low volatility in the last 24 hours. Trading volume fell 19.37 percent to $ 30.86 billion, while the total market value was trading at about $ 949.2 billion, resulting in a market dominance of 41.26 percent.
4-hour chart BTC / USD: Is BTC going to rise today?
In the 4-hour chart, the price of bitcoin returned above $ 50,000 as the cows made another attempt to climb.
Bitcoin price trends have seen a sharp rise in recent weeks. After setting a new major fluctuation at $ 29,500, Bitcoin began to rise and has now risen more than 70% to $ 50,000 main resistance.
However, the uptrend has slowed in recent weeks as the market stabilized around $ 46,500-50,000 last week. After a second retest of $ 46,500 support, Bitcoin rose again on Wednesday and the $ 50,000 mark was retested.
This expansion in the price of bitcoin led to a multi-day accumulation of around $ 50,000. Since the downtrend is no longer adjustable, we assume that Bitcoin will eventually break the $ 50,000 resistance and move to $ 53,000 early next week.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish in the next 24 hours as the market returns above $ 50,000 after consolidating in the last 24 hours. So, we expect BTC / USD to try to go higher and its next target is $ 53,000.
As you wait for more bitcoin to move, read our articles on packaged Bitcoin, decentralized exchanges, and the NFT market.
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