TL; Fault DR
- Bitcoin price analysis is bullish for today.
- BTC / USD rose to $ 44,000 overnight.
- Bitcoin started to rise today.
Bitcoin price analysis is bullish for today as the market re-tested the $ 44,000 benchmark and hit a one-night low. Therefore, we expect the BTC / USD to rise over the next 24 hours, offsetting most of the losses seen earlier this week.
The cryptocurrency market traded with different results in the last 24 hours. Bitcoin fell 0.5 percent and Atrium 0.41 percent. Meanwhile, Cardano (ADA) has the best performance with 11.41% increase.
Bitcoin price movement in the last 24 hours: Bitcoin set its lowest level at $ 44,000
BTC / USD traded in the range of $ 44,344.49 – $ 45,899.09, which shows a moderate fluctuation in the last 24 hours. Trading volume fell 16.7 percent to $ 39.36 billion. Meanwhile, the total market capitalization is about $ 858.7 billion, which leads to a 41.2% dominance of the market.
4-hour chart BTC / USD: BTC start rising again?
In the 4-hour chart, we can see the bitcoin price rising in the past few hours as the cows move again.
The bitcoin price trend fluctuated sharply this week. After rising to $ 46,500 in early September, BTC / USD finally reached $ 53,000 on September 7.
Since then, Bitcoin has experienced a rapid decline of 15% and its support was $ 43,000. In the middle of the week, slow motion increased and resistance was found at $ 47,000.
Within 24 hours, the Bitcoin price action fell further, this time to $ 44,000 in support. As further downtrends are ruled out, we expect the BTC / USD to rise over the next 24 hours and appear to cross the $ 46,500 resistance.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish as the new low was set overnight after the correction on Friday. Therefore, we expect the BTC / USD to reverse in the next 24 hours and appear to cross the $ 46,500 resistance again.
As you wait for more bitcoin to move, read our articles on packaged Bitcoin, decentralized exchanges, and the NFT market.
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