TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD has risen in the last 24 hours.
- Bitcoin hit a record low of $ 46,500.
Bitcoin price analysis is bullish today as the market has reached its lowest level at around $ 46,500 and has since begun to climb to the key resistance of $ 50,000. So, we expect BTC / USD to cross the $ 50,000 mark later this weekend and look for our next target of $ 53,000 early next week.
The cryptocurrency market has been in the green for the past 24 hours, with Bitcoin leading the way with 1.85%. Atrium has the best performance with 0.67% increase while Solana has the best performance with 13% increase.
Bitcoin price movement in the last 24 hours: Bitcoin reached $ 50,000
BTC / USD traded in the range of $ 48,173.60 – $ 49,283.51, indicating low volatility in the last 24 hours. The total trading volume is $ 29.3 billion, down 9.96% from yesterday. Meanwhile, the total market capitalization is about $ 922.7 billion, which leads to a 43.83% dominance of the market.
4-hour chart BTC / USD: Is BTC going to break the next $ 50,000?
In the 4-hour chart, the price of Bitcoin is rapidly approaching the $ 50,000 mark, as cows have finally moved higher.
The price of Bitcoin has been trading with a strong uptrend over the past month. Of the major $ 29,500 volatility, BTC / USD has risen more than 70% to the current $ 50,400 volatility.
However, the cows were unable to raise the bitcoin to a higher level on Monday, resulting in a multi-day correction this week. Finally, support was found above $ 46,500 on Thursday, and was consolidated within 24 hours.
Yesterday, the price of Bitcoin started moving again, indicating that the new low has been set. Since then, BTC / USD has hit the $ 49,000 mark and the next $ 50,000 is targeted.
Overall, the current price move should climb today and the $ 53,000 as the next major should be recognized as the bullish resistance after the $ 50,000 breakout.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish as the market started to climb in the last 24 hours after reaching its lowest level of around $ 46,500 earlier this week. Therefore, we expect BTC / USD to advance further and seek to break the key resistance of $ 50,000 over the weekend.
As you wait for more bitcoin to move, read our articles on packaged Bitcoin, decentralized exchanges, and the NFT market.
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