TL; Fault DR
- Bitcoin price analysis is bullish today.
- BTC / USD was rejected with another $ 41,000 support.
- Bitcoin is likely to return to the $ 44,000 resistance in the future.
Bitcoin price analysis is bullish today as another test of $ 41,000 support led to further decline. Therefore, we expect the BTC / USD to rise in the next 24 hours and is looking for a $ 44,000 resistance test.
The general market turned green in the last 24 hours. Bitcoin rose 1.29 percent and Atrium 1.37 percent. Baines Quinn (BNB) led the way with an increase of almost 11%.
Bitcoin price movement in the last 24 hours: Bitcoin was rejected with support of $ 41,000
BTC / USD traded in the range of $ 40,829.67 – $ 42,496.73, which shows a slight fluctuation in the last 24 hours. Trading volume fell 2.11 percent to $ 20.38 billion, while the total market value was trading at about $ 800 billion, leading to a 42.4 percent market dominance.
4-hour chart BTC / USD: BTC seems to be moving higher today
In the 4-hour chart, we can see cows increasing bitcoin movement after breaking $ 41,000 support again.
Bitcoin price measures have been trading in an increasing range over the past few weeks. The new support was set after a sharp rise on September 20, and BTC / USD fell below $ 41,000.
What followed was an increase to $ 45,000 in the middle of last week and another increase to $ 41,000 last Friday. Bitcoin stabilized in a rising range and reached a high of $ 44,000 today, Monday.
Since then, the price of bitcoin has fallen steadily again, regaining $ 41,000 support. However, it was rejected this morning and BTC / USD reached $ 42,000.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today because the bears could not bring Bitcoin back below $ 41,000 support and reversed this morning. Therefore, we expect the BTC / USD to rise further and return to the $ 44,000 resistance.
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