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  • Bitcoin Price Analysis: BTC is still falling and ready to break the $ 44,000 support?

Bitcoin Price Analysis: BTC is still falling and ready to break the $ 44,000 support?

 تاریخ انتشار :
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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis indicates a downward trend that should be followed.
  • BTC / USD continued to reach its highest level.
  • BTC tests $ 44,000 support.

Bitcoin price analysis is bearish in the next 24 hours as a further overnight decline was observed and $ 44,000 support is currently being tested. Therefore, we expect BTC / USD to outperform and continue to move later this week.

Bitcoin Price Analysis: BTC is still falling and ready to break the $ 44,000 support?  1
Encrypted currency heat map Source: Coin360

The overall market traded with different results and the market leaders, Bitcoin and Atrium lost about 1.6-1.8%. Cardano (ADA) is among the best actors with an increase of more than 5%.

Bitcoin price movement in the last 24 hours: Bitcoin is testing support at $ 44,000

BTC / USD traded in the range of $ 43,998.32 – $ 45,952.06, which shows a slight fluctuation in the last 24 hours. The total trading volume is $ 30.2 billion, down 13.72%, while the total market capitalization is about $ 834.8 billion, resulting in 44% market dominance.

4-hour chart BTC / USD: Is BTC targeting the next $ 42,000?

In the 4-hour chart, we see that the price of Bitcoin is preparing to break the $ 44,000 support, which should lead to a significant resistance of $ 42,000 in the future.

Bitcoin Price Analysis: BTC is still falling and ready to break the $ 44,000 support?
4-hour chart BTC / USD. Source: TradingView

The price of bitcoin has risen significantly over the past month. BTC / USD rose more than 45 percent to $ 42,000 after setting a new swing at around $ 29,500 on July 20.

Since the resistance, BTC has returned to $ 38,000 and rose more in the first half of August, this time reaching $ 48,000. However, the cows have lost their momentum again because it is not possible to climb further in the last week.

What followed was a $ 48,000 price correction earlier this week, while the $ 44,000 mark now keeps the Bitcoin price from falling further. Given the downtrend in recent days, we expect the BTC / USD to later break above the $ 44,000 support and reach the previous resistance of $ 42,000, which is now being re-tested as support.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is declining for today as the market moved lower overnight and now stands at $ 44,000 support. Therefore, we expect the BTC / USD to continue to fall, reaching $ 42,000 support later this week.

As you wait for more bitcoin to move, read our articles on the future of 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.