TL; Fault DR
- Bitcoin price analysis is bullish today.
- BTC / USD fell below $ 52,000 yesterday.
- The low price jumped to $ 50,000.
Bitcoin price analysis is bullish today as selling pressure has eased over the past few hours. Therefore, we expect the cows to move again later today and push the BTC / USD to the next resistance at the next $ 53,000.
The cryptocurrency market topped the market in the last 24 hours with the rise of Bitcoin by 2.5%. However, the rest of the market fell, with Atrium down 1.86 percent and most Altcoins much more lost.
Bitcoin price movement in the last 24 hours: Bitcoin price increase reached $ 52,000 overnight
BTC / USD traded in the range of $ 49,607.66 – $ 51,839.99, which shows a moderate fluctuation in the last 24 hours. Trading volume increased by 11.67% to $ 39.18 billion, while the total market value was traded at about $ 966.6 billion, resulting in 44.21% market dominance.
4-hour chart BTC / USD: BTC is trying to retry $ 50,000 as support
In the 4-hour chart, we can see the rapid rise in the price of Bitcoin in the past few hours and the selling pressure to reach above $ 50,000.
Bitcoin price performance this month has seen a sharp uptrend. After stabilizing for more than a week at more than $ 41,000 at the end of September, the uptrend returned on October 1.
BTC / USD rose sharply in the following hours, leading to a previous resistance of $ 48,500. From there, BTC stabilized over the weekend to see another increase earlier this week.
The price of Bitcoin crossed the $ 50,000 mark and reached $ 52,000 overnight. Currently, we have seen a slight bearish test leading to rejection, indicating that the uptrend is likely to resume in the next 24 hours.
Bitcoin Price Analysis: Conclusions
Bitcoin price analysis is bullish today as further downtrends have been met with intense buying pressure in recent hours. Therefore, we assume that BTC / USD is trying to reach the next resistance of $ 53,000 yesterday, today.
As you wait for more bitcoin to move, read our guide to the best NFT markets, NFT history and development, as well as NFT music.
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