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Bitcoin Price Analysis: BTC tries to retry $ 50,000 as support, but further decline rejected

 تاریخ انتشار :
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  Bitcoin

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.

Bitcoin Price Analysis: BTC tries to retry $ 50,000 as support, but further decline 1 rejected
Encrypted currency heat map Source: Coin360

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 Analysis: BTC tries to retry $ 50,000 as support, but further decline rejected
4-hour chart BTC / USD. Source: TradingView

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.

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.