TL; Fault DR
- BTC reached $ 48,000 overnight.
- BTC / USD returned overnight.
- Bitcoin intends to set its lowest level.
Bitcoin price analysis is bullish for today because it was observed overnight and the other lowest level has already been identified. Therefore, we expect the BTC / USD to rise today and continue to move higher.
The cryptocurrency market traded with different results in the last 24 hours. Bitcoin fell 1.12 percent and Atrium fell 2.2 percent. Meanwhile, Ripple (XRP) is among the best actors with a 10% increase.
Bitcoin price movement in the last 24 hours: The price of Bitcoin reaches $ 46,000
BTC / USD traded in the range of $ 45,648.64 – $ 47,357.11, which shows a slight fluctuation in the last 24 hours. Trading volume fell 11.47% to $ 29.3 billion, while total market capitalization was about $ 863 billion, accounting for 44% of market dominance.
4-hour chart BTC / USD: Will BTC rise again?
In the 4-hour chart, we can see bitcoin price action preparing to climb further next week.
The price of bitcoin has risen sharply in recent weeks. After the BTC / USD crossed the $ 42,000 resistance, there was a 38% increase from the $ 38,000 support to more than 25%, while the higher uptrend yesterday was around $ 48,000.
This price increase indicates that the market structure has climbed again and we can expect BTC to climb more next week. However, the uptrend has slowed down over the past few days and was only slightly higher yesterday.
Overnight, Dogecoin was followed again to find support around $ 46,000 as well as a 50-day moving average. BTC / USD should move higher in this price area today and continue its next path to $ 50,000.
Alternatively, if the price of Bitcoin does not reach its peak, a further overhaul could push BTC / USD to a retest at its highest level of around $ 42,000.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish in the coming days as another low level, which is currently changing overnight, is rising. Therefore, we expect BTC / USD to continue to rise next week and continue its path to the $ 50,000 mark.
While you wait for more Litecoin to move, read our articles on the future of bitcoin, physical bitcoin as well as stock vs. proof of work.
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