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  • Bitcoin Price Analysis: BTC quickly falls below $ 50,000 again, the lowest level?

Bitcoin Price Analysis: BTC quickly falls below $ 50,000 again, the lowest level?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish for today.
  • BTC / USD rose about 8%.
  • Bitcoin was supported at around $ 49,000.

Bitcoin price analysis is bullish today as the market today saw a rapid downturn and probably reached its lowest level. Therefore, we expect BTC / USD to rise again later today.

Bitcoin Price Analysis: BTC quickly falls below $ 50,000 again, the lowest level?  1
Encrypted currency heat map Source: Coin360

The cryptocurrency market traded at a significant loss over the past 24 hours. Bitcoin, the market leader, fell 5.03 percent, while Atrium fell 9.49 percent. Meanwhile, Solana (SOL) is still the best actor with an increase of almost 15%.

Bitcoin price movement in the last 24 hours: The price of Bitcoin increased from $ 53,000

BTC / USD traded in the range of $ 48,648.95 – $ 52,853.76, which shows a strong fluctuation in the last 24 hours. Trading volume increased by 30% to $ 48.1 billion, while the total market value was traded at around $ 925 billion, resulting in market dominance of 41.89%.

4-hour chart BTC / USD: Bitcoin price exceeded $ 50,000, support was found around $ 49,000?

In the 4-hour chart, we can see an 8% drop in the price of Bitcoin in the past few hours, as the bears seek to reach their lowest level.

Bitcoin Price Analysis: BTC drops below $ 50,000 again, the lowest level?
4-hour chart BTC / USD. Source: TradingView

The price of bitcoin has risen dramatically over the past week. After re-testing support at around $ 46,500, the market started to climb on September 1st.

At the end of last week, Bitcoin reached $ 50,000 resistance and stabilized around it, indicating another weakness. However, on September 5, the cows moved again, resulting in a further resistance of $ 53,000.

However, the cows could not keep the price of Bitcoin at around $ 53,000 for long because of drastic corrections in the past few hours. This lower bearish move is likely to lead to another low for BTC / USD and a further uptrend for the remainder of this week.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is bullish as the market has fallen more than 8% in the past few hours after reaching a high of $ 53,000 overnight. Therefore, we expect BTC / USD to set a higher price in the future and to climb further later this week.

As you wait for more bitcoin to move, read our articles on packaged bitcoins, 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.