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  • Bitcoin Price Analysis: The price of Bitcoin has risen to $ 42,500, is the market ready to reverse?

Bitcoin Price Analysis: The price of Bitcoin has risen to $ 42,500, is the market ready to reverse?

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  Bitcoin

TL; Fault DR

  • Bitcoin price analysis is bullish for today.
  • BTC / USD saw a sharp decline overnight.
  • Support was found at $ 42,500.

Bitcoin price analysis is bullish today as a sharp bearish decline was seen in the past hours after a rapid jump to the $ 42,500 mark. Therefore, we expect BTC / USD to recover some of the losses and raise the rest today.

Bitcoin Price Analysis: The price of Bitcoin has risen to $ 42,500, is the market ready to reverse?  1
Encrypted currency heat map Source: Coin360

The overall market has seen price declines in the last 24 hours. Bitcoin fell 7.47 percent and Atrium fell 7.81 percent. The rest of the top altcoins follow the main disciplines, with a similar drop of about 7-9%.

Bitcoin price movement in the last 24 hours: In a massive sale, Bitcoin fell to $ 42,500

BTC / USD traded in the range of $ 42,669.05 – $ 47,819.82, indicating widespread volatility in the last 24 hours. Trading volume increased by 44.16% to $ 39.39 billion, while the total market capitalization traded around $ 829.9 billion, resulting in 42.55% market dominance.

4-hour chart BTC / USD: Does BTC seem to be back above $ 44,000?

In the 4-hour chart, we see that the price of Bitcoin declined further in the past few hours because the cows are ready to dominate.

Bitcoin Price Analysis: The price of Bitcoin has risen to $ 42,500, is the market ready to reverse?
4-hour chart BTC / USD. Source: TradingView

Bitcoin price trends have experienced increasing instability in recent days. After a few days of aggregation in the range of $ 44,000-46,500, BTC / USD reached its highest level of $ 48,500.

However, after another attempt to move higher on September 18, more selling pressure was observed, resulting in a slow decline. This price action turned into a strong sale in the last 24 hours.

The price of Bitcoin rose to $ 42,500 and fell further. In general, this should lead to a return of uptrend in the next 24 hours.

Bitcoin Price Analysis: Conclusions

Bitcoin price analysis is up today with a rapid increase in the last 24 hours, leading to an increase of $ 42,500. However, the BTC / USD rose again as the further decline was reversed and the price returned to $ 44,000.

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